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Gold Futures trade flat on MCX

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Gold Futures were trading flat on the MCX in line with flattish overseas trend. Gold for August delivery was trading at Rs 26,428 marginally down by Rs 10.

Silver Futures for September delivery was up by Rs 47 at Rs 40,903.

Futures prices in India have been moving in tandem with international gold prices, which have rallied last week on statements by Federal Reserve Chairman Ben Bernanke who has hinted at continued monetary easing in the US.

 

Spot gold rose last week and analysts believe that the rally in equities could see investors shifting to equities from Gold ETFs, which could put pressure on gold prices again.

GoodReturns.in

Read more about: gold futures mcx
Story first published: Tuesday, July 16, 2013, 11:10 [IST]
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