Gold futures flat on weak physical demand

Gold futures were trading flat on Friday tracking global cues as strong US jobs data hinted at economic recovery, which weighed on the yellow metal sentiment.

International gold hovered near $1,590 an ounce, heading for second weekly gain as some investors preferred gold on hopes of further monetary easing measures.

Domestically, Gold futures for April 2013 contract, at MCX, were trading at flat at Rs. 29,374 per 10 grams.

Prices also fell on subdued physical demand for the precious metal in the domestic spot market.

Delhi spot gold of 99.9% purity was seen lower at Rs 29,630 per 10 grams and gold of 99.5% was seen at Rs 29,430 per 10 grams.

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