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Gold euphoria dies down

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Gold euphoria dies down
Gold which was trading up during morning sessions fell on the Multi Commodity Exchange. Gold for April delivery contract was trading marginally low at Rs 27,948 per 10 grams lower by Rs 46 at 3.10 pm IST.

Firm rupee weighed on gold as the rupee plays an important role in determining the landed cost of the yellow metal, which is quoted in dollars.

 

Indian equities surged in today's trade, investors have been diversifying their money from gold to equities.

While the futures for June contract were seen trading at Rs 28,337 per 10 grams lower by Rs 7.

However, Spot gold on MCX increased and was seen trading at Rs 27,833 per 10 grams and silver rose to Rs 57,646 per kgs.

While, silver for March delivery was seen trading at 58,728 per kgs lower by Rs 47.

Domestically, gold of 99.9 and 99.5% was at Rs 28,300 and Rs 28,125 per 10 grams, respectively.

US spot gold was seen at $1,68 an ounce.

GoodReturns.in

Read more about: gold silver futures mcx
Story first published: Friday, March 9, 2012, 15:30 [IST]
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