Gold trades flat ahead of ECB meet

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Gold trades flat ahead of ECB meet
Gold was seen trading flat as investors await outcome of European Central Bank (ECB) meet which is held tomorrow.

Gold investors and buyers would keenly watch the ECB meet scheduled tomorrow. ECB is expected to keep the interest rates unchanged. However, comments from President Mario Draghi will be closely watched for future direction of monetary measures.

Any disappointment from the ECB could lead to fall in the metal across the globe. International gold was seen trading around US$1,671 an ounce.

MCX gold futures for April delivery were trading at Rs 30,586 per 10 grams, lower by Rs 12 at 2.05 pm IST.

Silver futures for March delivery dropped by Rs 206 or 0.35% at Rs 58,150 on MCX.

As per Reuters report, Platinum rose to its strongest level in four months on Wednesday and sister metal palladium
held near its highest since September 2011.

Read more about: gold, futures, mcx
Story first published: Wednesday, February 6, 2013, 14:15 [IST]
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