Gold, silver lose momentum

Gold, silver lost momentum and were trading lower on the Multi Commodity Exchange (MCX). Gold for April delivery was trading at Rs 27,986, down Rs 21 at 02.20 pm IST, after having touched an intraday low of Rs 27,974 per 10 grams.

Silver for May delivery was trading lower by Rs 193 at Rs 59,028 per 10 grams after having touched an intra-day low of Rs 59,081 per kgs.

US spot gold was seen trading high at $1,718 an ounce. International gold rose after positive and better than expected U.S. employment data.

Sentiments for gold were further boosted after private bond holders accepted a debt swap paving the way for bailout funds for Greece.

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