Another flat day for gold on MCX

It was another flat day for gold on the MCX, with Gold for October delivery trading lower by Rs 68 on the MCX at Rs 29,360.
Silver for October delivery was trading down Rs 293 on the MCX.

Gold has been trading flat for the last few days, given the lack of cues from global markets. Spot gold has been trading flat in the international market, though it is slated to close lower for the 5th straight week.

Gold had seen a volatile last week following the Fed decision not to taper. However, comments by one of the Fed President's that the Fed could taper in October sent gold prices lower.

Gold is likely to remain in a tight range in the absence of any major cues.

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