Overseas gold gained on Thursday reversing previous day losses, international spot gold was seen trading at $ 1,756 an ounce.
Gold futures at the MCX, for October 2012 contract, was trading at Rs 31,463 per 10 gram, lower by 0.36%. The metal opened at Rs. 31,276 against the previous closing price of Rs. 31,310..
MCX silver futures was lower by Rs 264 per kg, and was trading at Rs 62,392 per kg. Spot silver on MCX was trading at Rs 60,849 per kg.
The Indian currency appreciated in today's trade due to surge in dollar inflows, particularly from foreign funds. The appreciation of the rupee puts downward pressure on the prices of the yellow metal.
Spot bullion on the MCX was seen lower at Rs 31,337 per 10 grams, while Delhi spot gold of 99.9% and 99.5% purity was at Rs 31,850 and Rs 31,650 per 10 grams, respectively.