Precious metals ended in a positive territory on the back of a sharp decline in the dollar and firmer crude. The dollar fell as the increase in risk appetite made investors shift from the dollar to riskier assets.

COMEX Gold futures climbed above $950 an ounce Monday, hitting the highest level in more than a month. Gold on MCX also rose by 0.59 percent.

Silver futures gained proportionately higher than gold. It rose by 1.01 and 1.27 percent on MCX and COMEX respectively.

IN FOCUS:

The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, said its holdings stood at 1,094.54 tonnes asof July 20, unchanged from the previous business day.

The U.S. dollar fell broadly against the basket of currencies. US $ index declined by 0.63 percent in the last trading session.

Prominent independent investor Dennis Gartman said on Monday he is now a buyer in the gold market because of bullion's technical strength and its status as a hedge against the U.S. dollar.

Paramount Gold And Silver Corp and Klondex Mines Ltd announce business Combination. They agree to combine two companies under plan of arrangement in a transaction valued at about C$80 million.

FUNDAMENTAL OUTLOOK:
After sharp upside in precious metals in the last few days, we expect profit taking may come in during today’s session as markets look a touch overbought. The trend for the day is sideways to down.