Comments
Gold prices moved down 0.58 per cent to Rs 28,537 per 10 grams at the futures trade today as participants indulged in trimming positions, tracking a weak trend overseas.
Besides, appreciating rupee also weighed on gold prices.
On the Multi Commodity Exchange, gold for delivery in June eased Rs 167 or 0.58 per cent to Rs 28,537 per 10 grams in a business turnover of 2,637 lots.
Likewise, the metal for delivery in August traded lower by Rs 163 or 0.58 per cent to Rs 27,872 per 10 grams in 106 lots.
Market analysts said apart from a weak trend in the overseas market, appreciating rupee which surged to almost 10-month high against the US dollar, making imports cheaper, put pressure on gold prices at the futures trade.
Globally, the yellow metal traded 0.24 per cent lower at $1,302.60 an ounce in Singapore today.
Comments
COMMENT NOW
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.