Silver, gold declines on MCX

Business

oi-Sneha

By Sneha B K

Published: Thursday, March 22, 2012, 15:49 [IST]

Silver and gold futures declined in today's trade. Gold fell after trading fairly steady during morning hours. Strike by jewellers in India ensured gold price remained stead. There was also a drop in physical buying as India is amongst the largest importers of gold.

Gold on MCX for April delivery was seen trading lower by Rs 35 at Rs 27,815 per 10 grams at 03.30 pm IST.

Spot gold on MCX was not trading on account of extended bandh in few parts of the country.

However, gold's cousin silver for May delivery on MCX was trading at Rs 56,700 per kgs down Rs 151.

Overseas spot gold price stood at US $1,635 a troy ounce.

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