Gold futures are trading lower in early trade on Friday. April 2013 gold futures at the MCX were trading down 0.20% at Rs 29,330 per 10 grams at 10.28 am after hitting high of Rs 29,357. It opened at Rs 29,355.
Meanwhile, May 2013 silver futures at the MCX were trading up 0.14% at Rs 54,365 per 1 kg after hitting high of Rs 54,396. It opened at Rs 54,290.
April 2013 gold futures at COMEX were down USD 0.1 or 0.01% to USD 1590.5t oz. Meanwhile, in the spot markets, gold was up USD 1.32 or 0.08% to USD 1591.44/t oz. at 10.31 am.
Commenting on the outlook, Emkay Commodity Research said, ''Gold prices are expected to go down on hopes of better economic recovery which is likely to hurt the safe haven appeal of gold. Gold in India is also likely to weaken and a stronger rupee can further put pressure on prices. Gold for April delivery on the Multi Commodity Exchange (MCX) was down by 0.34% at Rs 29,389/10gms.''