Gold, silver futures flat on MCX

Business

oi-Sneha

By Sneha B K

Updated: Saturday, July 7, 2012, 14:27 [IST]

Gold futures were trading flat at Rs 29,618 per 10 grams marginally higher by Rs 24 on Muti Commodity Exchange at 1.00 pm IST on Saturday.

Gold for October contract was trading at the level of Rs 29,925 per 10 grams higher Rs 22 today.

Gold edged lower on Friday as hopes faded of further monetary easing by Federal Reserve after positive US jobs data. Dollar strength also weighed on sentiments. A stronger dollar saw reduced demand for the precious metal as an alternative investment.

Domestically, gold of 99.9 and 99.5% purity was at Rs 30,200 and Rs 30,000 per 10 grams, respectively.

MCX silver futures edged marginally higher by Rs 69 per kg, silver for July delivery was seen trading at Rs 53,130 per kgs.

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