Gold, silver flat ahead of key European decisions

Updated: Tuesday, September 11, 2012, 14:52 [IST]

Gold futures were seen trading flat after a bull rally in previous sessions. Gold futures for October contract on Multi Commodity Exchange was seen trading at Rs 31,928 per 10 grams, higher by 0.07% at 2.30 pm IST.

Gold futures for December 2012 contract, was seen trading flat at Rs 32,301 per 10 grams on MCX.

Investors await key ruling in Germany that will rule whether or not to suspend Germany's ratification of the European bailout fund. The German Court's ruling and the Dutch elections, which could decide on a government that is anti-austerity. International gold was seen trading at US $ 1,733 an ounce.

Delhi spot gold of 99.9% and 99.5% purity was seen at Rs 32,450 and Rs 32,250 per 10 grams, respectively.

MCX silver futures was marginally higher by Rs 47 per kg, and was trading at Rs 64,027 per kg.

The recent rise in the yellow metal was mostly due to ongoing speculation of another round of monetary easing by Federal Reserve.

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