Comments
Gold futures plunged by Rs 268 to Rs 29,150 per 10 gram today as speculators trimmed their positions amid a weak global trend.
Gold for delivery in June dropped Rs 268, or 0.91 per cent, to Rs 29,150 per 10 gram in a business turnover of 539 lots at the Multi Commodity Exchange.
Similarly, the metal for delivery in August was trading down Rs 238, or 0.81 per cent, at Rs 29,265 per 10 gram in 14 lots.
The fall in gold futures was mostly in step with a weak trend overseas where it has sank the most in more than seven weeks after centrist Macron led the first round of voting in the French presidential election, boosting stocks and triggering a sell—off of safe—haven bullion, analysts said.
Meanwhile, gold prices tumbled 1.5 per cent, the biggest decline since March 2, to trade at USD 1,265.51 an ounce in Singapore.
Comments
COMMENT NOW
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.