MCX Gold February futures closed down 0.57 percent at Rs 27,750 per 10 grams.Local spot prices are approaching their two year lows and buying can pick up soon if this level holds on for a while.
Further losses from here can take yellow metal towards INR 27,700 and 27,650 per 10 grams.
COMEX Gold is up about half a percent to trade at $ 1,179 per ounce right now, up 0.20 percent on the day.
If losses occur from hereon prices can move towards INR 27,700 and 27,500 per 10 grams.
This is the third consecutive year the US Mint has seen unprecedented demand for bullion coins. In 2014 and in 2015, the mint reported record sales for silver coins.
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