Gold & Silver

Gold futures down at Rs 27,494 per 10 grams

PTI New Delhi | Updated on January 18, 2012

Gold prices declined by Rs 94 or 0.34 per cent to Rs 27,494 per 10 grams at the futures trade today in tandem with a weakening global trend amid profit-booking by speculators.

At the Multi Commodity Exchange, gold for delivery in February eased by Rs 94 or 0.34 per cent to Rs 27,494 per 10 grams with a business turnover of 2,916 lots. In a similar fashion, April contract lost Rs 86 or 0.31 per cent to Rs 27,856 per 10 grams with a trading volume of 174 lots.

Globally, gold for February delivery fell as much as 0.3 per cent to $1,651.50 an ounce on the Comex in New York, after climbing to $1,668 yesterday, the highest level since December 13.

Analysts said reports of a weakening trend in precious metals and a strong Indian rupee mainly put pressure on gold prices at the futures trade here.

Meanwhile, rupee strengthened by 16 paise to trade at a fresh two-month high of Rs 50.57 per US dollar at the forex market in early trade today.

Published on January 18, 2012

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

This article is closed for comments.
Please Email the Editor