Precious metals going nowhere; another flat day for Gold, silver

Business

oi-Sneha

By Sneha B K

Published: Friday, July 13, 2012, 15:45 [IST]

It was another dull day of trading in precious metals, with overseas spot gold hovering around $1,580 a troy ounce on the back of mixed investors' sentiments.

Gold for August delivery on the Multi Commodity Exchange (MCX) at 3.30 pm IST, was trading at Rs 29,238. It opened at Rs 29,224 per 10 grams and touched an intraday high of Rs 29,310 per 10 grams.

India spot gold of 99.9 and 99.5% purity was trading at Rs 29,765 and Rs 29,515 per 10 grams, respectively.

MCX spot gold was trading at Rs 29,155 per 10 grams, while spot silver at Rs 52,120 per kg.

While, silver for March delivery on MCX opened at Rs 52,903 per kg and was trading at Rs 53,040 per kgs.

The partially convertible Indian Rupee appreciated on Friday and was seen trading at Rs 55.32 per dollar. In the past a depreciating rupee has made gold imports more costlier.

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