Mumbai: India gold futures traded flat on Wednesday as investors watched equity markets to gauge risk apetite and awaited US earnings and manufacturing data, analysts said.
The benchmark June contract was 0.10% higher at Rs14,343 per 10 grams at 11:29am, after hitting a high of Rs14,400 in early deals.
“There is no direction as of now,” said Debjyoti Chatterjee, associate vice-president with ADMISI Commodity Services.
“Current prices are unlikely to draw buying or selling interest,” added Chatterjee.
“It is not giving any indication of how it is going to behave and would look at stock markets for direction,” said Gnanasekar Thiagarajan, director with Commtrendz Research.
US March data for consumer prices, real earnings and industrial production will be released later in the day.