Gold, silver shed early gains; drop marginally

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Gold, silver shed early gains; drop marginally
Gold futures reversed morning gains and were trading lower on the Multi Commodity Exchange (MCX) with gold futures for December contract at Rs 31,373 per 10 grams, lower by 0.26% at 2.10 pm IST.

Silver futures for December contract was trading marginally lower by Rs 4 at Rs 62,149 on the MCX.

Domestic gold inched up on Thursday as buying activity picked up. Delhi spot gold of 99.9% and 99.5% purity rose by Rs 50 and was seen at Rs 31,800 and Rs 31,600 per 10 grams, respectively.

Spot gold on MCX was seen at Rs 31,263 per 10 grams. While, silver was seen trading at Rs 60,999 per kg.

International gold was steady after trading lower in previous four sessions and was trading at $1,769 an ounce. However, strength in dollar due to eurozone worries could weigh on the yellow metal.

As per the latest AMFII report, gold ETF hit an all time high of Rs 11,198 crore.

Read more about: gold, silver, mcx, futures
Story first published: Thursday, October 11, 2012, 14:36 [IST]
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