Gold trades at Rs 47,950; Silver above Rs 61,000

Gold prices today gained 40 rupees at Multi Commodity Exchange for February contracts. The precious metal was trading at 47,950 rupees per 10 gram in intra-day trade.  On the other hand, silver declined 70 rupees to 61,450 rupees per kilogram for March Contracts when reports last came in. In the New York Mercantile Exchange, gold was down to trade at 1,780 US dollars and 40 cents per ounce. Silver prices were also down to trade at 22 dollars and 40 cents per ounce in intra-day trade.