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Gold prices steady as volatility reduces

 Gold prices steady as volatility reduces
Gold prices were steady in trade, though international prices were headed to a near one week low.

MCX Gold for June delivery was trading at Rs 26,596. International gold was trading at $1453 an ounce, after scaling almost $1472 earlier this week.

International gold prices were largely supported on the hopes that the Federal Reserve would continue its easy monetary policy, though it might stoke inflation in the medium term.

Indian gold prices domestically were trading steady in the spot market. Gold in Mumbai was trading at Rs 27,815 per 10 grams, while in Delhi the prices was placed at Rs 27,900 per 10 grams.

The fall in the Indian rupee has also made imports of gold cheaper and would reflect in prices in the coming weeks. The rupee has fallen from the Rs 54.50 levels to Rs 53.73 levels currently.

Read more about: gold
Story first published: Thursday, May 2, 2013, 12:38 [IST]
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