Yellow metal slips buts holds above Rs50,000
On the Multi-Commodity Exchange (MCX), February gold contracts were trading lower by 0.06 percent at Rs 50,050 per 10 gram at 0920 hours. March silver was trading 0.03 percent higher at Rs 66,891 per kilogram. Gold and silver prices dipped on Tuesday amid better-than-expected US third-quarter GDP data and strength in the dollar index. Downbeat US consumer confidence data also pushed both the precious metals lower.
Gold February futures contract settled at $1870.30 per troy ounce while Silver March futures contract settled at $25.53 per troy ounce. Both the precious metals settled on a weaker note in the domestic markets.