Gold & Silver

Gold futures fall to Rs 28,739 per 10 gm

PTI New Delhi | Updated on March 12, 2018

bl29_gold   -  The Hindu

Gold prices moved down by 0.31 per cent to Rs 28,739 per 10 gram at the futures trade today as speculators trimmed their exposures, tracking a weak trend overseas.

On the Multi Commodity Exchange, gold for delivery in February eased by Rs 90 or 0.31 per cent to Rs 28,739 per 10 gram in a business turnover of 201 lots.

Likewise, the metal for delivery in far-month April shed Rs 84 or 0.29 per cent to Rs 28,410 per 10 gm in three lots.

Market analysts said a weak trend in the overseas market, after signs of a strengthening US economy fuelled speculation that the Federal Reserve is ready to slow the pace of its monetary stimulus, mainly weighed on gold prices at the futures trade here.

Globally, the yellow metal fell 2.5 per cent to $1,218.80 an ounce in New York in the previous session.

Published on December 03, 2013

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