Gold futures decline on MCX

Published: Wednesday, February 29, 2012, 16:19 [IST]

Gold remained choppy on Wednesday on lack of cues which could decide the direction of the precious metal. Domestic market also saw a fall after disappointing Q3 GDP data released today.

On the Multi Commodity Exchange, Gold for delivery in April was trading at Rs 28,845 per 10 grams lower by Rs 30 at 3.40 pm IST.

Similarly, the metal for June contract was down by Rs 37 to Rs 29,215 per 10 grams.

Spot gold on the MCX rose and was seen trading at Rs 28,640, while spot silver rose was seen trading at Rs 60,500 per kgs.

Silver for March delivery was trading up by Rs 147 at Rs 61,030 and touched an intraday high of Rs 61,36 per kgs.

Domestic gold rate surged and gold of 99.9% and 99.5% purity were placed at Rs 29,040 and Rs 28,900 per 10 grams, respectively. The increase in domestic gold rate is due to ongoing wedding season.

US spot gold was seen trading at $1,785.84 an ounce.

GoodReturns.in

Story first published: Wednesday, February 29, 2012, 16:19 [IST]

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