Spot gold declines to Rs 27,430 per 10 grams

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Spot gold declines to Rs 27,430 per 10 grams
Gold futures declined in today's trade after climbing in previous session as the spike in precious metal tempted traders to book profits. Investors concerns over euro zone debt crisis and sought safety in precious metal as an alternative investment.

Gold on MCX for February delivery opened at Rs 27,600 per 10 grams, touched an intraday low of Rs 27,445 and was seen trading at Rs 27,507 – Rs 27,509 per 10 grams around 02.00 pm IST.

Similarly, the metal for April contract delivery made an intraday high of Rs 27,970 per 10 grams and was trading in the range of Rs 27,882 – Rs 27,888 per 10 grams.

MCX spot gold slipped more than Rs 200 and was trading at Rs 27,430 per 10 grams, while spot silver fell to Rs 51,590 per kg.

While, silver for March delivery on MCX opened at Rs 52,600 per kg and was trading in the range of Rs 52,425 – Rs 52,435per kg same time.

US spot gold was seen hovering at $1,644 an ounce.

The fall in prices is also due to lingering euro zone worries and a weak Asian trend.

Read more about: gold, silver, futures, mcx
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