Gold declines on global cues

PTI New Delhi | Updated on June 01, 2011 Published on June 01, 2011

Gold prices declined by Rs 91 to Rs 22,335 per 10 grams in futures trade today due to a weakening trend overseas.

At the Multi Commodity Exchange, gold for delivery in June declined by Rs 91 or 0.41 per cent to Rs 22,335 per 10 grams, with a business turnover of 122 lots.

Likewise, the metal for August delivery lost Rs 90 or 0.40 per cent to Rs 22,578 per 10 grams, with a business volume of 503 lots.

Analysts attributed the fall in gold futures to off-loading of positions by speculators, triggered by a weakening global trend as investor’s concerns that Greece may become the first euro country to default eased.

Meanwhile, gold traded lower by $3.80 to $1,530.50 an ounce in Asian region.

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Published on June 01, 2011
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