On Tuesday Gold February delivery contract slips from two week high to 20707 rupees down by 0.28 percent and it also drive Silver March delivery contract dropped by 0.70 percent to 46179 rupees per Kilogram at Multi Commodity exchange (MCX). Gold prices hovered near their two week high in Indian commodity market on Monday evening. A lackluster economic data from the US burnished the precious metal s safe haven appeal while optimistic forecast for New Year helped keep the market sentiment buoyant. Precious metals ended higher on the first day of the New Year on Monday 03 January 2011 at Multi Commodity Exchange (MCX). Gold prices erased earlier losses and ended mildly higher while silver ended modestly higher. On Tuesday Gold February delivery contract slips from two week high to 20707 rupees down by 0.28 percent and it also drive Silver March delivery contract dropped by 0.70 percent to 46179 rupees per Kilogram at Multi Commodity exchange (MCX). Gold and silver was steady on Tuesday as investor s eyed US economic data due this week for clue to the strength of world s biggest economy said Amrita Mashar analyst with Commodity Online . Investors in global market remained cautious ahead to US non farm payrolls data due January first week. Traders are keeping eye on US data before taking fresh position. In account of weak US payrolls number Gold and Silver price may ease after actual data will release. Traders and investors are advised to trade with cautious added Amrita.

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