Commodities

Gold futures down on weak global cues

PTI New Delhi | Updated on May 31, 2011 Published on May 31, 2011

Gold

Amid a weak trend overseas, gold continued its previous session’s slide to trade 0.24 per cent lower at the futures trade today.

Also, stronger rupee against the US dollar put some pressure on the precious metal prices at the futures trade here.

At the Multi Commodity Exchange, gold for delivery in June declined by Rs 53 or 0.24 per cent to Rs 22,438 per 10 grams with a business turnover of 1,398 lots. It had ended 0.13 per cent lower at Rs 22,491 per 10 gram on Monday.

Likewise, the metal for August delivery lost Rs 36 or 0.16 per cent to Rs 22,708 per 10 grams with a business volume of 1,156 lots.

Analysts said a weak trend in the global markets and a strengthening rupee against the US dollar kept gold prices under pressure at the futures trade.

Meanwhile, the yellow metal traded lower by $2.80 to $1,536.30 an ounce in the Asian region.

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Published on May 31, 2011
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