Spot gold trades lower at Rs 30,299 per 10 grams

Business

oi-Sneha

By Sneha B K

Published: Wednesday, January 30, 2013, 14:30 [IST]

Gold declined today as sentiments turned sour following reports that quoted renowned investment bankers saying that gold would peak in 2013.

Gold traders would now look for comments from a Federal Reserve meet which will end today. International spot gold was seen at $1,667 an ounce.

Recent data across the world indicated recovery in the economy which dented the gold sentiment as investors shift their focus towards other riskier assets, including equities.

Gold for February delivery reversed morning gains and was seen trading lower by Rs 24 at Rs 30,210 on Multi Commodity Exchange (MCX) at 2:10 pm IST. MCX spot gold was seen trading lower at Rs 30,299 per 10 grams.

While, silver for March delivery was seen trading higher in today's trade by Rs 186 at 58,092 per kgs.

Delhi spot gold of 99.9 and 99.5% purity was at Rs 30,980 and Rs 30,780 per 10 grams, respectively.

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