Gold trades flat a day before Diwali

MUMBAI: A day before Diwali, gold futures contract on October 22 traded at Rs 27,507 per 10 gm in early noon trades, down a fifth of a per cent from the previous close.

Consumer demand for the metal on Dhanteras, on Tuesday, was only marginally better than that a year ago, executives of leading branded jewellers Tanishq and Senco said.

However, much smaller players like Manubhai Jewellers, which has two stores in suburban Mumbai, witnessed the best Dhanteras this year, said the company’s director Samir Sagar.