Gold & Silver

Gold futures fall to Rs 30,429 on weak global cues

PTI New Delhi | Updated on February 22, 2018 Published on February 22, 2018

Amid a weak global trend, gold prices drifted lower by 0.15 per cent to Rs 30,429 per ten grams at the futures trade as participants reduced their bets.

At the Multi Commodity Exchange, gold for delivery in far-month April fell Rs 47 or 0.15 per cent to Rs 30,429 per ten grams in a business turnover of 393 lots. Likewise, the yellow metal for delivery in far-month June fell Rs 45 or 0.15 per cent to Rs 30,570 per ten grams in 2,371 lots.

Analysts said the weakness in gold futures was mostly in tune with a subdued trend overseas as minutes from the last US Federal Reserve indicated a hike in interest rates, strengthening the dollar and diminishing the appeal for precious metal as a safe haven.

Meanwhile, gold fell 0.05 per cent to $1,323.40 an ounce in Singapore.

Published on February 22, 2018
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