Gold drifts lower as global growth, dollar weigh

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Gold drifts lower as global growth, dollar weigh
Gold and silver futures declined in electronic trading on Thursday following a similar global trend. Overseas gold was trading lower at US $1,682 an ounce.

At 2.05 pm IST, gold futures on MCX for February delivery was trading down by Rs 60 at Rs 30,631 per 10 grams.
Silver futures was trading at Rs 59,364, lower by Rs 501 per kgs on the MCX.

The metal declined globally on concerns of global growth and also on strong dollar, which weighed on sentiments.

International Monetary Fund decision to trim global growth estimates for this year, made investors turn their focus on equities and dollar.

Delhi spot gold of 99.9 and 99.5% purity was at Rs 31,290 and Rs 31,090 per 10 grams, respectively.

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