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Gold trades flat after slipping in previous session

Gold trades flat after slipping in previous session
Gold futures were trading flat after dropping in the previous session. Gold futures on MCX for February delivery was trading marginally higher by Rs 15 at Rs 30,346 per 10 grams at 2.10 pm IST.

MCX silver futures were seen steady, while silver for March delivery was seen trading at Rs 58265 per kg.

Recent recovery in Europe's debt crisis and improvement in the US economy has made investors turn their focus towards equity and other riskier assets. Analysts expect the weakness in bullion to continue if there is a positive data from developed economies.

International gold was seen trading at $1,659 an ounce. The investors are closely monitoring the Federal Reserve policy meet this week also other key strings of data on employment which could aid in the movement of gold.

Fall in gold prices can cheer many of the gold buyers because of upcoming marriage season, but can upset gold futures investors who are long on the commodity.

Delhi spot gold of 99.9 and 99.5% purity was at Rs 31,085 and Rs 30,885 per 10 grams, respectively.

Read more about: gold futures mcx
Story first published: Monday, January 28, 2013, 14:30 [IST]
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