Gold, silver futures rise marginally on MCX

Business

oi-Sneha

By Sneha B K

Updated: Saturday, December 8, 2012, 14:24 [IST]

Gold and silver futures were trading marginally higher on the Multi Commodity Exchange. A recent dip in price of gold attracted bargain hunters on the commodity street.

Gold for February delivery contract on MCX opened at Rs 31,290 per 10 grams and was trading at Rs 31,333 per 10 grams at 02.10 pm IST.

While the futures for April contract was seen trading up marginally at Rs 31,717 per 10 grams.

Silver futures were seen trading at Rs 62,585per kgs, higher by Rs 93.

Mumbai spot gold of 99.9 and 99.5% purity rose and was seen at Rs 31,320 and Rs 31,460 per 10 grams, respectively.

Overseas spot gold was seen at $1,704 an ounce.

Investors are cautious against taking any major move, as the direction still seems to be unpredictable due to uncertainties over the global economies and volatility in currencies.

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