Gold remains near lowest

NEW DELHI, Sept 06 (Reuters): Gold prices in India was flat while silver rates firmed, tracking similar global cues. On MCX, gold futures dipped slightly to near one-month low of Rs 50,421 per 10 gram while silver futures rose 0.7 per cent to Rs 53,778 per kg.
In global markets, the yellow metal was flat at $1,712.09 per ounce, under pressure amid a stronger US dollar. Gold traders will be focusing on European Central Bank's meeting scheduled on Thursday. In global markets, spot silver rose 0.9 per cent to $18.32 per ounce.
Analysts expect ECB to deliver a 75 basis-point interest rate hike to tame surging prices. Traders also expect a big interest rate hike from the US Federal Reserve at its September 20-21 policy meeting.