Gold Futures trade flat on MCX; seek direction

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 Gold Futures trade flat on MCX; seek direction
Gold Futures were seeking a direction in the absence of any major news. Gold For October delivery was trading flat on the MCX at Rs 29,866, down Rs 6 over its previous close.

Silver for October delivery was trading lower by Rs 27 at Rs 49, 366 on the MCX.

Gold prices were virtually flat in international trade at $1327 an ounce.

Gold has lost ground in international trade for the last three days on uncertainty over the Fed's stimulus tapering off. It may be recalled that gold had rallied sharply after the Federal Reserve decided to keep tapering on hold.
Indian gold prices reflect international prices, with the only other variable being the Indian rupee.

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