Comex gold prices inch lower in early noon trades

MUMBAI: Gold seems to have weakened, options pricing data on US-based Comex indicates, after the US Fed boosted its assessment of the US economic recovery at the end of a two-day meet on Tuesday.

The metal traded down $3.8 at $1283.4 an ounce on the Comex, whose price cues are reflected by domestic commodity bourse MCX after adjusting for currency movement.

India is the world's largest importer of gold. About 800 tonnes of the metal is imported each year.

In early noon trades, the yellow metal’s price on MCX was flat at Rs 27,766 per 10 gm.


The most active $1250 put option on gold expiring in March rose by $1.20 to $11.4 at 12:20 PM IST. That of the $1,300 call declined by $1.7 to $17.5 from Wednesday's close.