Gold, silver steady: Euro zone eyed

Business

oi-Monika

By Monika Nihalani

Published: Thursday, September 29, 2011, 13:20 [IST]

Gold and silver seen steady on Thursday as investors sidelined themselves amid the political debate going on between the European policy makers and political leaders.

Gold for delivery in October at the Multi Commodity Exchange opened low at Rs 25,699 per 10 grams and was trading in the range of Rs 25,761 – Rs 25,765 per 10 grams, up by 0.35% at 1:10 pm IST.

And, the metal for April contract delivery opened at Rs 26,524 per 10 grams was trading in the range of Rs 26,582 – Rs 26,632 per 10 grams same time.

While Silver for delivery in December opened at Rs 51,270 per kg and was seen trading in the range of Rs 51,775 – Rs 51,805 per kg.

Metals are losing their sheen over the trade due to recent free-fall activity and investors are becoming more and more risk averse.

Short-term outlook for gold remain bullish due to the on-going festival season in India.

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