Gold, silver trade in a narrow range

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Gold, silver trade in a narrow range
Gold, silver was seen trading in narrow range, as trading in many Asian markets is closed on account of the Chinese New Year.

Gold was lacklustre in trading after the release of upbeat trade data out of the U.S and China. International gold was seen trading at $1,668 an ounce.

Gold futures on the Multi Commodity Exchange was seen trading lower by Rs 30 or 0.10% at Rs 30,785 at 2.20 pm IST.

While, silver futures for March delivery on the MCX was seen trading at Rs 58,216, lower by Rs 30

Investors are closely watching political developments in the Euro zone. The euro traded near a two-week low against the dollar.

The strengthening of the dollar will weigh on the gold sentiments as it dampens the metal's appeal as an alternative asset.

As on February 11, gold prices for 99.9% in major cities were prevailing around Rs 30,895 in Mumbai, Rs 30,755 in Ahmadabad, Chennai spot gold was seen at Rs 30,950 per 10 grams and Delhi spot gold was seen highest at Rs 31,000 per 10 grams.

Read more about: gold, mcx, futures
Story first published: Monday, February 11, 2013, 14:54 [IST]
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