Gold trades marginally higher on MCX

Business

oi-Sunil

By Sunil Fernandes

Published: Monday, November 11, 2013, 12:06 [IST]

Gold was trading marginally higher on the MCX after retreating through most of last week. Gold was trading higher by Rs 118 at Rs 29,823 on the Multi Commodity Exchange (MCX).

In line with gold, silver too rallied higher by Rs 193 at Rs 48,337 on the MCX.

Gold had fallen most of last week after the better then expected US jobs data raised worries that the US Federal Reserve would taper-off its quantitative easing programme next month, as against estimates that it would be done early next year.

This saw gold prices fall towards the end of last week. In India, however, prices have increased as the rupee has showed some signs of weakness in the last few trading sessions. Check gold rates here

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