Gold & Silver

Gold futures decline to Rs 29,776 per 10 gm

PTI New Delhi | Updated on January 20, 2018 Published on May 19, 2016

Gold futures today fell 0.93 per cent to Rs 29,776 per 10 grams as speculators reduced their bets amid a weak global trend.

At the Multi Commodity Exchange, gold for delivery in June fell Rs 279 or 0.93 per cent to Rs 29,776 per 10 gram in a business turnover of 13,815 lots.

Similarly, the metal prices for delivery in far-month August declined Rs 276 or 0.91 per cent to Rs 30,045 per 10 gram in 670 lots.

Market analysts said the fall in gold futures is mostly attributed to trimming of positions by speculators, tracking a weak trend overseas on concerns that the Federal Reserve may raise interest rates as soon as June after the possibility was flagged in the minutes of its meeting last month.

Meanwhile, gold traded 0.21 per cent down at $1,255.30 an ounce, its lowest levels in three weeks in Singapore today.

Published on May 19, 2016
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