International gold trades flat

Business

oi-Sneha

By Sneha B K

Published: Wednesday, October 31, 2012, 14:41 [IST]

Overseas gold was seen trading flat on Wednesday ahead of US jobs data which is due later this week. The dollar slipped against the euro and other major currencies amid waves of Hurricane Sandy.

International gold was seen trading at $1,716 an ounce. However, investors remained sidelined ahead of the US payrolls data and US jobs data which will decide further direction for the yellow metal.

Domestically, gold demand could pick up as festive season in India is underway. Gold traders may see fair demand for coins and jewellery in the market as Dhanteras and Diwali are just round the corner.

At 2.30 pm IST, gold for December delivery on the MCX was trading flat at Rs 31,081 per 10 grams. The metal opened the day at Rs 31,091 per 10 grams.

Silver futures for December delivery on MCX was trading higher by Rs 287 at Rs 59,685 per kgs.

Delhi spot gold of 99.9% and 99.5% purity was seen at Rs 31,510 and Rs 31,310 per 10 grams, respectively.

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