Commodities

Gold futures lose sheen

PTI New Delhi | Updated on February 24, 2011 Published on February 24, 2011

Weakening trends in Asian region also influenced trading sentiments. PHOTO A. Roy Chowdhury   -  Business Line

Gold futures prices traded lower by Rs 29 to Rs 20,955 per 10 grams today as speculators booked profits at existing high levels.

Weakening trends in Asian region also influenced trading sentiments.

At the Multi Commodity Exchange, gold for delivery in April declined by Rs 29 or 0.14 per cent to Rs 20,955 per 10 grams, with a business turnover of four lots.

Likewise, the yellow metal for delivery in June traded low by the same margin to Rs 21,272 per 10 grams, with a trade volume of just one lot.

Analysts said profit taking by speculators on existing high levels and reports of weakening trends in the Asian region led to the decline in gold futures prices.

Meanwhile, gold fell by $3 to $1408.70 an ounce in Asia.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on February 24, 2011
This article is closed for comments.
Please Email the Editor