Gold Price Today: Yellow metal prices showed a nominal riseYellow metal prices witnessed a nominalrise on Monday as on the Multi-Commodity Exchange (MCX), August gold contracts jumped 0.25 per cent to Rs 47,653 for 10 grams.
Silver also moved upwards as September futures climbed 0.04 per cent to reach Rs 67,194 perkilogram.Meanwhile in the international market, gold prices witnessed a fall as spot gold dropped by 0.1 per centto $1,799.89 per ounce.
US gold futures fell by a meagre margin of0.2 per centto $1,798.90 per ounce.Globally, investors are keeping a close watch on the Federal Open Market Committee's meeting this week.
It is generally being speculated that the US central bank will keep the policy rates and stance unchanged during the meeting.COMEX gold trades marginally higher near $1,807 per ounceafter a 0.2 per centdecline in previous session.
Gold inched up amid choppiness in US dollar, increasing virus concerns, US-China tensions and China's crackdown on technology firms.
However, weighing on price is continuing ETF outflows, weaker consumer demand and uncertainty ahead of the Fed meeting this week.
Gold may remain supported near $1,800 per ounceuntil dollar is steady, said Ravindra Rao, Head Commodity Research at Kotak Securities.