Gold marginally lower after early week rise

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, January 15, 2014, 10:51 [IST]

Gold was trading marginally lower after rising for most of the week. Gold for Feb delivery was trading lower at Rs 28956, down Rs 140 on the MCX. Silver on the other hand was down at Rs 44654, a loss of Rs 287.

Gold and silver have been moving higher since the start of the year. Weak US non farm payrolls data last week fuelled fresh buying in gold.

The metal has started on a better note as compared to last year when international gold prices were down more than 30 per cent.

In fact, gold lost ground for the first time last year in 12 years, after investors spend the precious metal to buy into equities. Check gold rates here

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