Comments
Gold prices drifted Rs 97 to Rs 25,455 per 10 grams at the futures trade today as participants lightened their positions, largely in step with a weak trend overseas.
Gold for delivery in far-month February 2016 was trading down by Rs 97 or 0.38 per cent at Rs 25,455 per 10 grams at the Multi Commodity Exchange with a business turnover of 251 lots.
On similar lines, the metal for delivery in April next year shed Rs 56 or 0.22 per cent, to Rs 25,603 per 10 grams in four lots.
Analysts said a weak trend in the overseas markets, as investors anticipate an increase in US interest rates next week and the slump in oil reduces inflationary pressure and demand for the precious metal as hedge against rising prices, weighed on gold futures here.
Globally, gold fell 0.2 per cent to $1,069.90 an ounce in Singapore.
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.