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    Gold trading flat on MCX; silver down

    Gold trading flat on MCX; silver down
    Gold futures were trading flat on the Multi Commodity Exchange with gold futures for December contract at Rs 31,348 per 10 grams, higher by 0.09% at 02.50 pm IST.

    MCX silver futures slipped by Rs 120 per kg, and was trading at Rs 61,658 per kg.

    Delhi spot gold of 99.9% and 99.5% purity rose by Rs 40 and was seen at Rs 31,840 and Rs 31,640 per 10 grams, respectively

    Weaker dollar boosted the demand for gold due to its inverse relationship with the greenback.

    Historically, gold and dollar share an inverse relationship with each other and the recent slip in dollar has aided the yellow metal.

    International spot gold was seen trading at Rs 1,767 an ounce. Gold sentiment was little changed on Friday after decline in weekly U.S. unemployment data report.

    A fall in prices will attract physical buyers of India, who are waiting for prices to come down.

    Read more about: gold silver mcx futures
    Story first published: Friday, October 12, 2012, 15:29 [IST]
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