Gold metal trades flat, could face support near Rs 51,000

Gold metal trades flat, could face support near Rs 51,000

Gold MCX December futures trade flat on Tuesday following a muted trend seen in the international spot prices which were little changed as concerns over a spike in the U.S. coronavirus cases offset pressure from vaccine optimism.

Bullion dropped as much as 1.3% on Monday after drug maker Moderna said its experimental vaccine was 94.5% effective in preventing COVID-19 based on interim data from a late-stage trial said a Reuters report.

On the Multi-Commodity Exchange (MCX), December gold contracts were trading higher by 0.04 percent at Rs 50,852 per 10 gram at 0920 hours.

December silver futures were trading 0.05 percent lower at Rs 63,657 per kg.