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Gold and silver in mid day trade continue to trade weak due to the strengthening in the dollar on MCX and tracking cues from global markets. The dollar has strengthened because of positive data from US.
Rupee has also started to strengthen against the dollar, thus causing prices to fall.
Silver in today's trade is following the movement of gold and thus even silver prices are down on.
Gold is down by one% at Rs 31,900 per 10 grams while silver is trading at Rs 54,163 per kilogram, down by 1% on MCX.
Analysts say that, this will continue as data from US continues to remain positive and this will have a negative impact on bullion prices as safe haven buying will reduce.
