Gold and Silver falls on Euro hope

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Gold and Silver falls on Euro hope
Gold and silver fell on Thursday on some ray of hope seen in Euro zone that European leaders will find a way out of the recent crisis and save struggling economies.

Gold on MCX lost by Rs 100 per 10 grams and Silver shed by Rs 640 per kg.

The most actively traded gold contract, for December delivery opened high at Rs 26,832 per 10 grams and was trading in the range of Rs 26,726 – Rs 26,730 per 10 grams at 12:30 pm.

And, the metal for February contract delivery opened at Rs 27,061 per 10 grams was trading in the range of Rs 26,992 – Rs 26,731 per 10 grams same time.

Optimism also flowed after Slovakia's top political parties came to an agreement that they would approve Europe's enhanced bailout fund by the end of this week.

International gold prices were seen trading in the range of US $1,673 - $1,674 per ounce.

While, Silver for delivery in December at the Multi Commodity Exchange, opened at Rs 54,110 per kg and was trading in the range of Rs 53,464 – Rs 53,470 per kg.

Read more about: gold, silver, mcx, europe
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