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Gold, silver advances on MCX


Gold, silver advances on MCX
Gold, silver futures advanced on MCX, after slipping in yesterday's trade. Silver which lost Rs 1,288 per kgs recovered around Rs 250 in today's trade at 2.40 pm IST.

On the Multi Commodity Exchange (MCX), gold for April delivery was trading at Rs 28,012 per 10 grams higher by Rs 64 and it had reached intraday high of Rs 28,049 per 10 grams.


Similarly, silver for march delivery was at Rs 58,654 per kgs up by Rs 224 per 10 grams and touched intraday high of Rs 58,938 per kgs.

Weak rupee is also boosting demand for gold. The rupee plays an important role in determining the landed cost of the yellow metal, which is quoted in dollars.

However, Spot gold on MCX increased and was seen trading at Rs 27,822 per 10 grams and silverdipped further to Rs 57,595 from Rs 57,747 per kgs.

US spot gold was seen at $1,697 an ounce.

Read more about: gold silver futures mcx
Story first published: Tuesday, March 6, 2012, 14:56 [IST]
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