MUMBAI: Gold prices in India traded slightly lower on Thursday, even as silver prices recovered from early losses and moved higher due to strong buying at lower levels.
On the Multi Commodity Exchange (MCX), gold for April futures was trading at Rs 1, 61, 665 per 10 grams, down by Rs 124 or 0.08 percent.
The precious metal had opened higher at Rs 1, 62, 799 per 10 grams compared with its previous close of Rs 1, 61, 789, but later pared its gains amid weak global cues.
Experts said that strong buying interest remains visible in the Rs 1, 56, 000–Rs 1, 57, 000 demand zone.
“As long as prices hold above this base, the medium-term bullish outlook remains intact. A sustained breakout above Rs 1, 65, 000 could revive bullish momentum toward Rs 1, 75, 000–Rs 1, 80, 000, ” an analyst stated.