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Stock markets in Asia opened up with MSCI’s broadest index of Asia-Pacific shares outside Japan advancing 0.3 percent.

Australian shares were up 0.7 percent and Japanese shares rose 1.2 percent.

The Indian rupee opened marginally lower by 4 paise at 66.74 per dollar versus 66.70 Friday. The rupee is likely to head towards 66.50/dollar levels and the trading range for the day is likely to be between 66.50-66.80/dollar.

Last week, spot gold prices rose by 2.2 percent to close at $1303.8 per ounce on account of weak dollar and uncertainty about the outcome of a tight U.S. presidential race.

Commodity Tips On the MCX, gold prices rose by 2 percent to close at Rs.30557 per 10 gms.

Gold gained as investors weighed the need for a haven before American presidential election against expectations of higher U.S. interest rates.

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Spot silver prices rose by 2.9 percent last week to close at $18.4 per ounce in line with rise in gold prices and weak dollar.

On the MCX, silver prices rose by 2.3 percent to close at Rs.43398 per kg.

Silver steadied as jitters over U.S. election offset a solid payrolls report that shored up expectations for a U.S. interest rate.

WTI oil prices declined by 9.5 percent last week to close at $44.1 per barrel as investors reeled from a record weekly surge in U.S. crude inventories, and remained skeptical about whether OPEC can actually implement its planned output cap.

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On the MCX, oil prices declined by 10.4 percent last week to close at Rs.2940 per barrel.

Free Commodity Tips Crude oil dropped as signs of tensions resurfaced between Saudi Arabia and Iran that could scupper a key supply cut pact.

GOLD $ 1289.35.

SILVER $ 18.120, COPPER $336.80, CRUDE OIL $ 44.68, INR 66.735.

Read daily commodity market updates from MCX HNI Tips blog.