Gold, silver futures reverse morning loses

Business

oi-Sneha

By Sneha B K

Published: Tuesday, October 30, 2012, 14:27 [IST]

Gold, silver futures reversed morning losses and were seen trading up marginally, with gold futures for December 2012 contract, at MCX trading at Rs 31,122 per 10 grams, higher by 0.09% at 2.05 pm IST. Gold opened the day at Rs 31,055 per 10 grams.

International gold price was seen trading at $ 1,714 an ounce. Investors expect gold to trade in narrow range ahead of US payrolls data on Friday.

However, firmness in the dollar may weigh on the yellow metal. The dollar is strengthening against other major currencies, which may prompt investors to close bets in yellow metal.

Ahmedabad Spot gold on MCX was seen at Rs 30,890 per 10 grams. Decline in prices may augur well for those who want to purchase jewellery during the festive season.

Delhi spot gold of 99.9% and 99.5% purity rose and was seen at Rs 31,550 and Rs 31,350 per 10 grams, respectively.

Silver futures for December delivery on MCX was trading higher by Rs 336 at Rs 59,728 per kgs.

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