Gold moves down by 0.24% at futures trade

PTI | | Updated on: Apr 23, 2018

Gold prices moved down by 0.24 per cent to Rs 31,524 per ten grams at the futures trade as speculators trimmed their positions, taking weak cues from global markets.

At the Multi Commodity Exchange, gold for delivery in August fell Rs 76 or 0.24 per cent to Rs 31,524 per gen grams in a business turnover of 4 lots. Likewise, the yellow metal for delivery in June was trading lower by Rs 69 or 0.22 per cent at Rs 31,363 per ten grams in 223 lots.

Analysts said the fall in yellow metal prices in futures trade was mostly in tandem with a weak trend overseas, where the metal slipped to its lowest level in nearly two weeks as the dollar remained supported on the back of rising US Treasury yields.

Meanwhile, gold declined by 0.13 per cent to $1,333.50 an ounce in Singapore today, after touching its lowest since April 10 at $1,331.70 in the previous session.

Published on April 23, 2018
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