Gold gains support placed at Rs 50,000 per 10 gm

Gold  gains support placed at Rs 50,000 per 10 gm

On September 7 the India Gold October futures rose marginally tracking the positive trend seen in the international spot prices on a weak dollar.

The dollar index was off from a one-week high hit in the previous session. A weaker greenback makes gold less expensive for holders of other currencies, said a Reuters report.

On the Multi-Commodity Exchange (MCX), October gold contracts were trading higher by 0.22 percent at Rs 50,791 per 10 gram at 0920 hours. September silver futures were trading over 1 percent higher at Rs 68,070 per kg.

Gold and silver slipped again amid a rebound in manufacturing activities in China, the European Union, and the United States.