Gold, silver drops as US jobs data weigh

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Gold, silver drops as US jobs data weigh
Gold, silver futures came under pressure tracking overseas trend as strong US jobs data weighed on gold sentiment as doubts raised on Federal Reserves further monetary easing measures.

Also, dollar strengthening against other major currencies prompted investors to close bets in yellow metal.

MCX spot gold was trading lower at Rs 30,851 per 10 grams, while spot silver at Rs 59,991 per kg.

And, the metal for December contract delivery opened at Rs 31,135 per 10 grams. 

While, Silver for delivery in March at the Multi Commodity Exchange, opened at Rs 61,725 per kg and was trading at Rs 61,725 per kgs, lower by Rs 535.

US spot gold was seen hovering at $1,771 an ounce.

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Read more about: gold, silver, mcx, futures
Story first published: Monday, October 8, 2012, 14:38 [IST]
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