Gold futures down, silver marginally up

Published: Friday, February 24, 2012, 15:43 [IST]

Gold declined in today's trade after climbing in previous session as investors are cautious against taking any major move, as the direction still seems to be unpredictable due to uncertainties over the Greek debt crises.

Gold felt the pressure as investors preferred to book profit after the rise in the yellow metal.

Spot gold on MCX was trading low at Rs 28,524 per 10 grams and Silver was up and seen trading at Rs 57,732 per kgs.

On the Multi Commodity Exchange (MCX), gold for April delivery was trading lower by Rs 106 at Rs 28,807 at 3.15 pm IST and had touched intraday high of Rs 28,849.

Similarly, the metal for June contract lower by Rs 103 at Rs 29,177.

While, silver for march delivery picked up after trading in negative terrain during morning hours and rose by Rs 159 at Rs 58,836 and touched intraday high of Rs 58,877.

Domestically, Gold of 99.9 was at Rs 28,940 and 99.5 was at Rs 28,800 per 10 grams.

Fall in gold prices can cheer many of the gold buyers because marriage season is still on, but can upset gold futures investors who are long on the commodity.

US spot gold was seen hovering at $1,780 an ounce.

GoodReturns.in

Story first published: Friday, February 24, 2012, 15:43 [IST]

Other articles published on Feb 24, 2012