Gold prices today eased below the Rs 27,000-mark by falling Rs 178 to Rs 26,972 per 10 grams at the futures trade amid a weak global trend.
On the Multi Commodity Exchange, gold for delivery in December was trading lower by Rs 178 or 0.66 per cent at Rs 26,972 per 10 grams in a business turnover of 377 lots.
Also, the precious metal for delivery in far month February next year shed Rs 173 or 0.63 per cent to Rs 27,185 per ten grams in 7 lots.
Analysts attributed the fall in gold futures to a weak global trend, where it retreated from three-month high, as signs of a buoyant US economy revived expectations that the Federal Reserve may raise interest rates and data showed that China expanded quicker than economists forecast in the third quarter.
Globally, gold fell 0.5 per cent to $1,171.38 an ounce in Singapore as the Federal Reserve moved closer to boosting US interest rates for the first time since 2006.
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.