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Gold, silver eases on MCX


Gold, silver eases on MCX
Gold, silver futures on MCX eased on Monday after trading in positive during morning session as dollar strengthened. On Multi Commodity Exchange Gold for April delivery contract was trading marginally low at Rs 27,917 per 10 grams lower by Rs 106 at 3.10 pm IST.

While the futures for June contract were seen trading at Rs 28,286 per 10 grams lower by Rs 109.


However, Spot gold on MCX increased and was seen trading at Rs 27,873 per 10 grams and silver rose to Rs 58,345 per kgs.

While, silver for March delivery had a steep fall and was seen trading at 59,218 per kgs lower by Rs 565.

Strong dollar pressured on gold due to its inverse relationship with the greenback.

Historically, gold and dollar share an inverse relationship with each other and the sudden rise in dollar has weighed on gold.
Domestically, gold of 99.9 and 99.5% was at Rs 28,340 and Rs 28,200 per 10 grams, respectively.

US spot gold was seen at $1,698 an ounce.

Read more about: gold silver futures mcx
Story first published: Monday, March 5, 2012, 15:15 [IST]
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