Gold prices in India traded flat on the Multi Commodity Exchange (MCX) Thursday after falling over 1 percent in the previous session amid a positive trend in the international spot prices.

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At 10:35 am, gold futures for October delivery eased 0.03 percent to Rs 50,804 per 10 grams as against the previous close of Rs 50,821 and opening price of Rs 50,964 on the MCX. Silver futures traded 0.15 percent higher at Rs 68,355 per kg. The prices opened at Rs 68,594 as compared to the previous close of Rs 68,254 per kg.

International gold recouped some of the previous session's hefty losses as the dollar steadied, although gains were capped by an uptick in risk appetite on recent better-than-expected economic data, Reuters reported.

Spot gold was up 0.2 percent at $1,945.59 per ounce, after falling 1.4 percent on Wednesday in its biggest one-day drop since August 19 on a firmer dollar and rebound in US manufacturing activity.

US gold futures rose 0.4 percent to $1,952.20.

“A jump in gold expected till Rs 51,100, if holds same then Rs 51,550-51,850 else from Rs 51,100 prices can see Rs 50,640 and below the same can test Rs 50,100 level,” said Kedia.

The dollar index held steady against a basket of major currencies after rising 0.6 percent in the last session.

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First Published:Sept 3, 2020 10:47 AM IST