Gold, silver flat despite firm overseas trend

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Gold, silver flat despite firm overseas trend
Gold after rallying to the record high last week was seen trading flat today as investors preferred to book profits after the recent spike in the prices.

Gold on Monday slipped from record high, MCX gold futures for October 2012 contract, was trading at Rs 31,871 per 10 gram at 2.30 pm IST.

Gold futures for December 2012 contract, was seen trading lower by 0.05% at Rs 32,210 per 10 grams on MCX.

MCX silver futures was down by Rs 108 per kg, and was trading at Rs 64,176 per kg.

Delhi spot gold of 99.9% and 99.5% purity was seen at Rs 32,525 and Rs 32,325 per 10 grams, respectively.

While, overseas gold was steady near seven-month high, as Federal Reserve Chairman Ben Bernanke's announced a quantitative easing programme in the US. This is expected to see fresh surge in gold as liquidity through the easing tends to chase precious commodities. International gold was seen hovering around $ 1,769 an ounce.

Read more about: gold, silver, mcx, futures
Story first published: Monday, September 17, 2012, 14:53 [IST]
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