Comments
Gold futures prices today fell by 0.32 per cent to Rs 26,550 per 10 gram as participants indulged in reducing exposures, largely in tandem with a global trend as firming dollar reduced appeal for safe haven investment.
At the Multi Commodity Exchange, gold for delivery in August, fell by Rs 85, or 0.32 per cent, to trade at Rs 26,550 per 10 grams in a turnover of 109 lots.
Similarly, the metal for delivery in June shed Rs 83, or 0.31 per cent, to Rs 26,363 per 10 gm in 760 lots.
Globally, gold lost as much as 0.50 per cent to $1,387.18 an ounce in Singapore.
Analysts said a weakening trend overseas as the dollar strengthened before data that is forecast to show the US economy is improving, boosting the case for reduced stimulus, reducing demand for the metal as an alternative investment, weighed on gold prices at futures trade.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.