NEW DELHI : Gold prices remained marginally down in India on lower demand as buyers preferred to wait for the prices to come down.
In the futures trade, the most active August contract on the Multi Commodity Exchange was down 0.35 percent at Rs 14,849 per ten grams at 3.16 p.m while July contract was at Rs 14,852 per ten grams at the same time.
Analysts said, traders are waiting for the release of U.S. employment report, which could provide signals on the health of economy and direction for the precious metals complex.
On the global arena, the bullion remained virtually unchanged in early European trade Friday but is expected to advance on weak dollar later during the day.
Gold for immediate delivery was at $979.40 an ounce at 3.00 p.m Indian time by 10 a.m. local time from Thursday’s close of $980.60 an ounce on the New York Mercantile Exchange’s Comex division.
August gold futures slipped $1.70, or 0.2 percent, to $980.60 an ounce on the New York Mercantile Exchange’s Comex division.
Meanwhile, SPDR Holdings Investment in the SPDR Gold Trust, the biggest exchange- traded fund backed by bullion, was unchanged at 1,132.5 metric tons Thursday.
Major precious metals such as silver, platinum and palladium also suffered marginal losses in early European trade Friday.
