Gold & Silver

Gold futures decline to Rs 26,205 per 10 gm

PTI New Delhi | Updated on March 12, 2018 Published on May 28, 2014

gold

Gold prices fell further by 0.4 per cent to Rs 26,205 per 10 grams at the futures trade today as participants engaged in reducing positions in tandem with a weak trend overseas where the precious metal dropped to over 15-week low.

On the Multi Commodity Exchange, gold for delivery in August eased by Rs 104 or 0.4 per cent to Rs 26,255 per 10 grams in a business turnover of 134 lots.

Likewise, the metal for delivery in June shed Rs 90 or 0.33 per cent to Rs 26,868 per 10 grams in 778 lots.

Market analysts said a weak trend in the overseas market where gold fell to over 15-week low as encouraging US economic data backed the case for the Federal Reserve to keep on reducing the monetary stimulus, while demand in China showed signs of waning, weighed on the precious metal at the futures trade here.

Besides, strengthening dollar also reduced the appeal of the bullion, they said.

Globally, gold fell 0.3 per cent to $1,260.97 an ounce in Singapore today, the lowest price since February 7.

Published on May 28, 2014
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