Gold, silver inches up on MCX

Business

oi-Sneha

By Sneha B K

Published: Saturday, April 21, 2012, 15:02 [IST]

Gold and silver futures rose on Multi Commodity Exchange on Saturday. MCX gold futures for June delivery opened at Rs 28,660 per 10 grams and touched a high of Rs 28,714 per 10 grams at 02.40 pm IST, the gold was seen trading at Rs 28,705 per 10 grams up by Rs 62.

Gold prices fell on Friday as a result of persistent concerns about Spain and lackluster US economic data.

Similarly gold for August delivery was seen at Rs 29,098 per 10 grams up Rs 51.

Silver for May delivery opened at Rs 56,549 per kgs and rose up by Rs 109 at Rs 56,560 per kgs.

Traders are expecting to see a rise in physical demand as the gold buying festival Akshaya Tritiya is nearing, as it is considered auspicious to buy gold on that day.

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