Gold of 99.5 percent purity Rs. 440 to Rs. 78,840 per 10 grams. In the previous trading session, the metal was Rs. 78,400 per 10 gm.
“So far this week, gold prices have been trading in a soft range due to the Christmas holiday season, and market participants are looking for more fundamental cues to initiate the next phase of market action in both directions,” said Saumil Gandhi, senior analyst, commodities at HDFC Securities. .
On Wednesday silver too Rs. 800 with a jump of Rs. 90,500 per kg was reached. In the previous session, the white metal was Rs. 89,700 per kg.
In futures trade on the MCX, gold contracts for February delivery were flat on Wednesday at Rs. 76,893 per 10 gm to close.
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In futures trading on commodity bourses, the silver contract for March delivery was Rs. 28 or 0.03 percent down to Rs. 87,550 per kg was settled.
The Multi Commodity Exchange (MCX) traded in the first six months. However, trading will be closed for the evening session on Wednesday, New Year’s Day.
All foreign markets were also closed for the New Year holiday, Gandhi said.
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