Gold and silver marginally up, physical buying strong

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Gold and silver marginally up, physical buying strong
Gold and silver added marginal gains in morning trading hours. Globally, investors and speculators are under the tight territory and finding it difficult to decide the direction of gold after it posted a steep fall recently.

On the domestic front, gold hasn't failed to lure the buyers as the first festival of festive season, Navratra has started.

Gold may see huge demand in October due to on-going wedding season and up-coming Diwali and Dhanteras, which is the most auspicious event for the Hindus.

Gold for delivery in October at the Multi Commodity Exchange opened low at Rs 25,813 per 10 grams and was trading in the range of Rs 25,930 – Rs 25,935 per 10 grams, up by 0.76% at 11:45 am IST.

And, the metal for April contract delivery opened at Rs 26,712 per 10 grams was trading in the range of Rs 26,725 – Rs 26,789 per 10 grams same time.

24 carat spot gold was seen at Rs 26,423 per 10 grams and 22 carat spot gold was seen at Rs 24,146 per 10 grams.

Silver also posted marginal gains in morning trade.

Silver for delivery in December at the Multi Commodity Exchange, opened at Rs 51,875 per kg and was trading in the range of Rs 52,286 – Rs 52,300 per kg.

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Read more about: gold, silver, mcx, festive season
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