Gold, silver advances on MCX

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Gold, silver advances on MCX
Gold, silver advanced on Saturday tracking overseas trend. Gold for October delivery opening at Rs 30,890 per 10 grams and was seen trading at Rs 30,940 per 10 grams higher by Rs 63 at 12.20 pm IST.

International gold was seen at $ 1,670 an ounce. Gold mainly got support this week on speculation that central bank in the U.S., China and Europe would ease monetary policy to support economic growth.

Weaker trend in the Indian rupee against the U.S. dollar also sent the gold prices higher on Friday as the domestic currency declined in yesterday's trade.

Gold futures contract for December delivery contract was trading at Rs 31,310 per 10 grams.

While, silver for September delivery on MCX was trading at Rs 57,47 per kgs higher by Rs 526.

Delhi spot gold on Friday settled higher, gold of 99.9 and 99.5% purity was at Rs 31,230 and Rs 31,030 per 10 grams, respectively. However, investors are cautious against taking any major move, as yellow metal steadied to Rs 31,000 per 10 grams.

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