Gold & Silver

Gold futures slide to Rs 26,808 per 10 gm

| Updated on: Oct 29, 2015

Gold futures today fell 0.98 per cent to Rs 26,808 per 10 grams as speculators reduced their bets amid a weak global trend.

At the Multi Commodity Exchange, gold for delivery in December fell Rs 271 or 0.98 per cent to Rs 26,808 per 10 gram in a business turnover of 1,909 lots.

Similarly, the metal prices for delivery in far-month February 2016 declined Rs 156 or 0.94 per cent to Rs 27,039 per 10 gram in 33 lots.

Market analysts said the fall in gold futures is mostly attributed to trimming of positions by speculators, tracking a weak trend overseas after the US Federal Reserve indicated it will consider tightening the policy at its December meeting, thereby strengthening the dollar and reducing the appeal for the precious metals.

Meanwhile, gold traded lower at $1,157.30 an ounce in Singapore today.

Published on January 23, 2018

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