Gold, silver flat on global concerns

Reversing previous day's losses, gold was trading flat on the Multi Commodity Exchange (MCX), in line with overseas trend.

Gold futures for December contract on MCX was around Rs 31,361 per 10 grams, marginally higher by 0.10% at 02.00 pm IST.

MCX silver futures was virtually unchanged at Rs 61510 per kg.

Delhi spot gold of 99.9% and 99.5% purity was around Rs 31,520 and Rs 31,370 per 10 grams, respectively.

Overseas gold rose after declining for two successive days. However, global growth concerns and lingering euro zone worries kept gold traders away as the dollar too was trading stronger. International gold was quoted at Rs 1,772 an ounce.

Domestically, physical buying remained subdued due to the ongoing 'Shradh', which is considered inauspicious in Hindu mythology for purchase of new things.

GoodReturns.in