Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Gold futures fall 0.33 pc on weak global cues

Aug 29 2013, 18:37 IST
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SummaryThe metal for December contract shed Rs 60, or 0.18 per cent, to Rs 33,300 per 10 grams in 699 lots.

Gold prices fell by 0.33 per cent to Rs 33,296 per 10 grams in futures trade today as speculators offloaded their positions, tracking a weak global trend.

At the Multi Commodity Exchange, gold for delivery in October fell by Rs 109, or 0.33 per cent, to Rs 33,296 per 10 grams in business turnover of 14,397 lots.

Similarly, the metal for December contract shed Rs 60, or 0.18 per cent, to Rs 33,300 per 10 grams in 699 lots.

Market analysts said speculators offloaded their positions in tandem with a weak global trend where gold retreated from a three-month high on speculation over the US economic data.

Meanwhile, gold fell by 0.6 per cent to USD 1,409.40 an ounce in London.

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