Lackluster day for gold, silver; trades flat

Gold and silver futures were trading flat in electronic trading on Saturday, on the Multi Commodity Exchange, gold for August delivery contract opened at Rs 29,778 per 10 grams and was seen trading at Rs 29,794 per 10 grams at 12.40 pm IST.

The gold futures contract for October delivery contract was trading higher by Rs 140 at Rs 30,0071 per 10 grams.

MCX silver futures edged up marginally by Rs 29 per kg, silver for March delivery was seen trading above Rs 53,230 per kg.

International gold also eased on Friday as investors expectations for further quantitative easing from the Federal Reserve were dampened due to better than expected drop in US unemployment claims. Overseas spot gold gold was seen trading around $1,623 an ounce.

However, investors eye are on the crucial ECB and the Federal Reserve policy meeting coming up next week.

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