MCX gold above Rs 30,000 per 10 grams

Gold futures on MCX was seen trading above Rs 30,034 per 10grams on Saturday. Prices remained supported after official data showed that China's consumer price index rose at an annualized rate of 1.8% in July, slower than the 2.2 % rate of the previous month.

Gold prices also rose due to renewed interest from retailers and jewellery traders reflecting a steady overseas trend.

Gold futures contract for December delivery contract was trading at Rs 30,383 per 10 grams.

While, silver for September delivery on MCX opened at Rs 53,481 per kg and was trading at Rs 53,485 per kgs.
However, investors are cautious against taking any major move, as yellow metal steadied to Rs 30,000 per 10 grams.

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