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The cues from international markets were positive around this time. On the Comex, gold futures were trading at $2,033.50 per troy ounce, up by $9.40 or 0.46%, while Silver futures were hovering at $23.185 per troy ounce, lower by $0.290 or 1.240%.
Analyst Anuj Gupta predicts moderately bullish outlook for crude oil with prices likely to remain at current levels due to higher supply from non-OPEC producers and patchy demand from China and Eurozone. Middle East tensions and US dollar strength also impact prices.
On Tuesday, the MCX Gold April contract closed at Rs 61,497, down by Rs 7 or 0.01% while the March Silver futures settled at Rs 69,622, up by Rs 17 or 0.02%.
The exchange deferred the timings of resumption twice before the trade started. In a circular issued by MCX, it said that the trading hours for the commodity derivatives segment for February 13, 2024, have been revised from 9 am to 1 pm.
Gold and silver contracts resumed trading on Tuesday after a four-hour delay amid a technical glitch that forced a shutdown of trade on the Multi Commodity Exchange (MCX).