Gold prices in spot and futures are likely to gain on Monday in the domestic market, taking cues from global markets during the weekend.

On Friday, the most-active December gold contract closed firm at $1,773.90 an ounce on the Comex.

A weakening dollar that is likely to lead to a firm trend in the rupee is likely to push gold prices in global and domestic markets.

Base metals may stay rangebound

Base metals, on the other hand, are likely to be range-bound as fears of slower economic growth looms.

Agricultural commodities could come under pressure with arrivals of various kharif crops starting. However, the slow pace of arrivals could cap the fall in the prices.

Emergence of export demand could buoy commodities such as cotton, while prospects of improved sowing could put pressure on chana, a rabi crop. Maize is likely to be range-bound.

(This article was published on October 1, 2012)
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