Gold, silver futures up marginally on MCX

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Gold, silver futures up marginally on MCX
Gold, silver futures rose marginally on the Multi Commodity Exchange reversing yesterday's losses.

On Friday, international spot gold fell 1% on uncertainty over monetary stimulus. Investors are cautious against taking any major move and preferred to book profits at prevailing levels.

MCX gold futures for February delivery was seen trading at Rs 30,789 per 10 grams higher by Rs 32.

While, silver for March delivery rose marginally and was seen trading at 58,2040 per kgs up by Rs 100.

Tracking global commodities investors may opt for dollar as safe haven. The fall in prices may attract physical buyers of India, who waited long for the prices to come down.

Gold which is considered a hedge against inflation and also yield the best returns during the times of uncertainties.

GoodReturns.in

Read more about: gold, silver, mcx
Story first published: Saturday, January 12, 2013, 13:30 [IST]
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