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Gold inches up on MCX, silver falls

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Gold inches up on MCX, silver falls
Gold futures on Saturday increased marginally after slipping yesterday. On the Multi Commodity Exchange (MCX), gold for April delivery was trading at Rs 28,328 up Rs 25 at 2.20 pm IST.

On Friday, Gold fell in overseas market after US job claims report which signalled a pickup in hiring indicating recovery in the economy and leaving less scope for further monetary easing. International spot gold was seen at Rs 1,578 an ounce.

 

In India, the domestic gold price fell by Rs 155 to Rs 28,785 per 10 grams, silver shed Rs 700 to Rs 53,500 per kg tracking weak overseas market lower trend seen in the futures market also dampened the trading sentiment.

Sentiment was dampened after gold fell in international trade to four-month low on concerns over the deepening eurozone crises.

Silver for July delivery on MCX and was seen lower by Rs 15 to trade at Rs 54,125 per kgs.

GoodReturns.in

Read more about: gold futures mcx
Story first published: Saturday, May 12, 2012, 14:33 [IST]
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