Gold futures flat on MCX; silver up

Gold futures were trading flat on the Multi Commodity Exchange with gold futures for December contract at Rs 31,016 per 10 grams at 2.00 pm IST.

MCX silver futures rose marginally by Rs 78 per kg, and was trading at Rs 59,721 per kg.

International gold was seen at $ 1,710 an ounce. On Friday, gold inched up marginally after better than expected US gross domestic data. The data showed that the U.S. economy grew by 2%, versus 1.3% in the second quarter.

However, concerns over the global economic recovery and doubts on the future of monetary policy which was unveiled by Fed Chairman Ben Bernanke, weighed on the sentiment.

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