Gold, silver trades flat on MCX

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Gold, silver trades flat on MCX
Gold, silver futures reversed previous day losses and was seen trading flat on Tuesday. Gold futures for October contract on Multi Commodity Exchange was seen trading at Rs 31,457 per 10 grams, higher by 0.08% at 2.35 pm IST.

Gold on MCX for December delivery was seen trading at Rs 31,749 per 10 grams higher by 0.07%.

Gold saw some buying activity as investors expect the recent stimulus plans by central banks will boost the bullion sentiment. As per leading newspaper agency gold is expected to reach $1,900 in the next half of the fourth quarter. Overseas gold was seen trading at $ 1,767 an ounce.

On Monday, gold lost half a percent as dollar strengthened, after sluggish German data, which weakened the euro.
Silver for December delivery on MCX was seen trading at Rs 62,673 per kg, higher by 0.43%. Spot silver was seen at Rs 60,948 per kg.

Delhi spot gold of 99.9% and 99.5% purity was at Rs 32,110 and Rs 31,910 per 10 grams, respectively.

Read more about: gold, silver, mcx, futures
Story first published: Tuesday, September 25, 2012, 15:07 [IST]
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