Bullion counter may trade on positive path as weaker greenback and safe haven demand can give support to the prices. Meanwhile movement of local currency rupee will give further direction to the prices. Gold can move in range of 29300-29700 while silver can move in range of 39000-40000 in near term. Gold prices rose early on Monday, pulling further away from a two-month low, as fresh concerns over North Korea's nuclear ambitions stoked safehaven demand for the precious metal and weighed on the dollar. The dollar held steady against the yen on Monday, having retreated from 12-week highs set last week, due to a renewed focus on geopolitical risks amid concerns that North Korea may be preparing another missile test. North Korea's leader Kim Jong Un said his nuclear weapons were a "powerful deterrent" that guaranteed its sovereignty, state media reported on Sunday, hours after US President Donald Trump said "only one thing will work" in dealing with the isolated country. Hedge funds and money managers reduced their net long positions in COMEX gold and silver contracts for the third straight week, in the week to Oct. 3, US Commodity Futures Trading Commission (CFTC) data showed on Friday.Gold bounced up from a two-month low on Friday, on concerns stoked by a Russian report that North Korea is preparing to test a long-range missile and on support from the U.S. dollar's shift into negative territory. Earlier, bullion fell to a two-month low at $1,260.16 an ounce on an upbeat reading of the U.S. unemployment rate and wage growth last month that supported For Quick Trial – 08962000225
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