Commodities

Gold futures marginally down

PTI New Delhi | Updated on January 05, 2011 Published on January 04, 2011

Gold jewellery ornaments for sale at a show room in Kochi.   -  Business Line

Besides a weakening trend in the Asian region, profit-booking by speculators due to a fall in demand at existing higher levels led to a decline in gold prices at the futures trade. At the Multi Commodity exchange, February contract declined by Rs 21 or 0.1 per cent to Rs 20,767 per 10 grams with a business turnover of three lots.

Gold prices traded marginally lower by Rs 21 to Rs 20,767 per 10 grams at the futures trade today, as speculators preferred to book profits at existing higher levels following a fall in demand.

Weakening trend in the Asian region further influenced the trading sentiment.

At the Multi Commodity exchange, February contract declined by Rs 21 or 0.1 per cent to Rs 20,767 per 10 grams with a business turnover of three lots.

Similarly, April contract traded lower by a similar margin to Rs 20,768 per 10 grams with an open interest of two lots.

Market analysts said besides a weakening trend in the Asian region, profit-booking by speculators due to a fall in demand at existing higher levels led to a decline in gold prices at the futures trade.

Meanwhile, gold shed $0.60 to $1,414 an ounce in the Asian region.

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Published on January 04, 2011
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