Gold Futures marginally down on MCX

Gold for Oct delivery was trading marginally down by Rs 274, on the MCX at Rs 29,930. Silver on the other hand was trading lower by Rs 580 at Rs 48,073.

Gold has been trading steady over the last few trading sessions, waiting for cues, particularly the partial government shutdown in the US and the debt ceiling problems there.

Gold Futures are set to be steady and take cues from the Fed meeting scheduled later during the month and also from the Monetary Policy Review.

Physical demand for gold across the globe may increase ahead of the festive season in India. Check gold rates here

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