Silver jumps 1 percent ,Gold metal trades above Rs 50,100
India Gold February futures trade above Rs 50,100 per 10 gm on December 30 tracking a positive trend seen in the international spot prices. Tracking the momentum, Silver March futures rose nearly 1 percent in trade.
On the Multi-Commodity Exchange (MCX), February gold contracts were trading higher by 0.22 percent at Rs 50,151 for 10 gram at 0920 hours. March silver was trading 0.97 percent higher at Rs 68,756 a kilogram.
Experts are of the view that investors could use the dip to buy into precious metals. Gold has support near Rs 49,550 while Silver has support around Rs 67,500.
Gold and silver settled on a mixed note on Tuesday. Gold February futures contract were settled at $1882.90 per troy ounce and Silver March futures contract were settled on a weaker note at $26.22 per troy ounce.