International spot gold slipped to trade at $1,194 an ounce.
Gold sentiment was weighed by strong US equities which rose after reports showed the number claims for unemployment benefits rose last week to the highest since early September. Hinting that the Federal Reserve will raise interest rates next year which will dampen gold sentiment.
Bullion losing streak continues on back of strong dollar and strong equities. Investors and speculators are cautious ahead of Swiss vote on central bank gold reserves which is held on November 30 for more trading cues.
At MCX, gold futures for December 2014 delivery, is trading at Rs. 26,245 per 10 grams, down by 0.44 per cent, after opening at Rs. 26,308, against the previous closing price of Rs 26,362. It touched an intra-day low of Rs 26,131 at 2.45 pm IST.
Silver futures on MCX for December 2014 delivery, is trading at Rs. 36,125 per kgs, down by 1.28 per cent. It touched an intra-day low of Rs 35,802 per kgs. Check silver rates here.