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Gold flattens today after a spike


Gold flattens today after a spike
Gold declined in today's trade after climbing in previous session as the spike in precious metal tempted traders to book profits.

However, investors are cautious against taking any major move, as the direction still seems to be unpredictable due to uncertainties over the global economies and volatility in currencies.


At 3.30 pm IST, the gold for February delivery on the Multi Commodity Exchange (MCX) was trading at Rs 27,852.00. It opened at Rs 27,812 per 10 grams.

On domestic front, the spot gold rose; 24 carat gold rose to Rs 27,860 per 10 grams and 22 carat gold to Rs 26,050 per 10 grams.

MCX spot gold was trading at Rs 27,720 per 10 grams, while spot silver fell to Rs 51,932 per kg.

US spot gold was seen hovering at $1,614.70 an ounce.

While, silver for March delivery on MCX opened at Rs 52,900 per kg and was trading in the range of Rs 52,525 – Rs 52,528 per kg same time.

Read more about: gold silver mcx currency
Story first published: Thursday, January 5, 2012, 15:33 [IST]
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