Gold futures decline, silver up

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Gold futures decline, silver up
Gold on MCX slid marginally on Friday after trading in green initial hours. On domestic front, the rupee firmed up against US dollar with the volatility seen in domestic equities.

The rupee plays an important role in determining the landed cost of the yellow metal, which is quoted in dollars.

Multi Commodity Exchange (MCX) gold futures for February delivery opened at Rs 28,151 per 10 grams and was seen trading at Rs 28,143 down by 0.04 % or Rs 12 at 2.55 pm IST.

Whereas April contract delivery was trading at Rs 28,447 grams slightly down by Rs 57 or 0.20%.

Silver for March delivery on MCX was trading at Rs 57,178 up by Rs 155 or 0.27%.

Domestic, Gold of 99.9 % rose by Rs 110 to Rs 28,640 and 99.5% rose by Rs 28,500 per 10 grams. Silver surged further by Rs 1,040 to Rs 57,240 per kg.

Increase in gold domestically is due to buying by stockists to meet the demand for the ongoing marriage season.

Spot gold at MCX rose to Rs 28,180 per 10 grams. While spot silver rose and was seen trading at Rs 55,850.

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Read more about: gold, silver, futures, dollar, mcx
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