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Gold futures trade higher, silver down


Gold futures trade higher, silver down
Gold futures rose on Wednesday as speculators created fresh positions amid uncertain global trend. The fall in domestic equities boosted the demand for the yellow metal as safe-haven investment.

However, investors are cautious against taking any major move, as the direction still seems to be unpredictable due to lingering confidence over Greece bailout.


At 2.25 pm IST, the gold for February delivery on the Multi Commodity Exchange (MCX) was trading at Rs 28,481 up Rs 101. It had reached intraday high of Rs 28,546.

While, silver for March delivery on MCX was trading at Rs 57,148 marginally lower by Rs 9.

Domestically, Gold of 99.9 was at Rs 28,760 and 99.5 was at Rs 28,620 per 10 grams.

MCX spot gold was trading up at Rs 28,284 per 10 grams, while spot silver was up at Rs 56,791 per kg.

US spot gold was seen hovering at $1,755 an ounce.

Global investors are optimistic about the performance of gold as global worries continues as they consider it to be a hedge against the global uncertainties.

Read more about: gold silver futures mcx
Story first published: Wednesday, February 22, 2012, 14:43 [IST]
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