Gold prices tumbled by Rs 399 to Rs 23,452 per 10 grams in futures trade today, as speculators off-loaded their positions on the back of a weakening global trend.
At the Multi Commodity Exchange, gold for delivery in December declined by Rs 399 or 1.67 per cent to Rs 23,452 per 10 grams, with an open interest of a single lot.
Similarly, the yellow metal for delivery in June plunged by Rs 347 or 1.52 per cent to Rs 22,473 per 10 grams with a business turnover of nine lots.
Analysts attributed the steep fall in futures to a weakening trend overseas, where the metal dropped by $17.20 to $1,548.50 an ounce.
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.