Gold flat ahead of US non farm payrolls data

Gold was trading flat ahead of a key US non farm payrolls data due on Friday, which should provide more hints on the Federal Reserve's intent to taper QE3. Read more on QE3 here

Gold for February delivery on the MCX was trading at Rs 28,803, marginally higher by Rs 8. Silver for Feb delivery on the MCX was trading at Rs 44,093, up by Rs 224.

Gold has its worst performance in recent years in 2013, dropping for the first time in 12 years. Investors have shifted their focus to equities and have shunned gold, which led to a sharp drop in the price of the metal.

However, since the beginning of the year, gold has recovered partially, as investors continue to buy the metal on declines.

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