1. Gold futures fall Rs 76 on weak global cues, profit-booking

Gold futures fall Rs 76 on weak global cues, profit-booking

Amid a weakening global trend, gold futures fell Rs 76 to Rs 29,978 per ten grams today as participants trimmed their positions.

By: | New Delhi | Updated: May 20, 2016 2:02 PM
Gold, Silver, Bullion Amid a weakening global trend, gold futures fell Rs 76 to Rs 29,978 per ten grams today as participants trimmed their positions. (Reuters)

Amid a weakening global trend, gold futures fell Rs 76 to Rs 29,978 per ten grams today as participants trimmed their positions.

Gold for delivery in far-month August contracts was trading Rs 76 or 0.25 per cent lower at Rs 29,978 per ten grams in a business turnover of 37 lots at the Multi Commodity Exchange.

On similar lines, the metal for delivery in June shed Rs 59 or 0.20 per cent to Rs 29,738 per ten grams in 583 lots.

Marketmen said the fall in gold futures was mostly in tune with a weak trend overseas as investors reassess the likelihood of higher US borrowing costs, which damp the appeal of bullion.

Meanwhile, gold prices in global market was little changed at USD 1,255.39 an ounce in Singapore today. It sank to USD 1,243.90 yesterday, the lowest since April 28, as a resurgent dollar hurt demand.

Tags: Gold
  1. No Comments.

Go to Top