Spot gold declines to Rs 29,160 per 10 grams

Business

oi-Sneha

By Sneha B K

Published: Saturday, July 14, 2012, 15:03 [IST]

Gold futures declined in today's trade after climbing marginally in previous session, gold on MCX for August delivery opened at Rs 29,260 per 10 grams, touched an intraday low of Rs 29,242 and was seen trading at Rs 29,272 per 10 grams at 3.00 pm IST.

Similarly, the metal for October contract delivery was seen trading at Rs 29,264 per 10 grams

Spot gold was seen at Rs 29,160 per 10 grams, spot silver was seen at Rs 51,700 per kgs.

While, silver for September delivery on MCX opened at Rs 52,799 per kg and was trading at Rs 52,776 per kgs lower by Rs 31.

On Friday, international gold rose about 1.5%, which was largest one-day rally in three weeks. US spot gold was seen hovering at $1,588 an ounce.
Despite fall in prices last week, buyers refrained from gold purchases in expectations of bigger fall.

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