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The April gold futures were trading at Rs 61,954 per 10 grams on the MCX at 11.30 am and were down by Rs 50 or 0.08% from Monday's closing price. Meanwhile, the March Silver futures were trading at Rs 71,130 per kg and were lower by Rs 176 or 0.25% around this time.
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%.
Gold is on its way to having its largest drop in two months after some inconsistent economic data from the US made it unclear what the Federal Reserve might do next about interest rates, Neha Qureshi, Senior Technical & Derivative Analyst at Anand Rathi Commodities & Currencies said.
The April gold futures were trading at Rs 61,366 per 10 grams on the MCX at 11.50 am and were down by Rs 77 or 0.13% from Wednesday's closing price. Meanwhile, the March Silver futures were trading at Rs 70,242 per kg and were higher by Rs 90 or 0.13% around this time.
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%.