India Gold February futures declined in trade on December 23 tracking a subdued trend witnessed in the international spot prices.

On the Multi-Commodity Exchange (MCX), February gold contracts were trading lower by 0.06 percent at Rs 50,050 per ten gram during morning session. March silver was also trading 0.03 percent higher at Rs 66,891 per kilogram.

As per the Expert’s point of view, both the precious metal could remain volatile, but dips, if any in Gold, could be used to buy for a target of Rs 50,300 while a stop loss can be placed at Rs 49,550 per 10 gm. Gold and silver prices went down on Tuesday amid better than expected US third-quarter GDP data and strength in the dollar index. Downbeat US consumer confidence data also pushed both the precious metals lower.

Gold February futures contract settled at USD 1870.30 per troy ounce while Silver March futures contract settled at USD 25.53 per troy ounce. Both the precious metals settled on a weaker note in the Indian markets.

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