Gold futures fall 0.27 pc on global cues

Tracking a weak global trend, gold futures prices today fell 0.27 per cent to Rs 30,893 per 10 grams today as speculators offloaded their positions.

At the Multi Commodity Exchange, gold for delivery in December fell by Rs 84, or 0.27 per cent, to Rs 30,977 per 10 grams, with a business turnover of 1,867 lots.

Similarly, the yellow metal for delivery in February lost Rs 82, or 0.26 per cent, to Rs 31,240 per 10 grams, with a business turnover of 90 lots.

Marketmen said speculators offloaded positions amid a weak global trend amid concern that the economy is slowing and China may refrain from additional economic stimulus, curbing demand for the precious metal, leading to a fall in gold futures prices here.
Meanwhile, gold dropped 1.3 per cent to USD 1,737.60 an ounce in New York last night.

Liked the story?

  • 0

  • 0

  • 0

  • 0

  • 0