Comments
Gold prices moved down by 0.25 per cent to Rs 27,610 per 10 gram at the futures trade today as participants offloaded positions partially, taking weak cues from the global market on slowing physical demand.
Besides, profit-booking also influenced the sentiment.
On the Multi Commodity Exchange, gold for delivery in August declined by Rs 68 or 0.25 per cent to Rs 27,610 per 10 gram in a business turnover of 370 lots.
Likewise, the metal for delivery in far-month October shed Rs 70 or 0.25 per cent, to Rs 27,717 per 10 gram in three lots.
Market analysts said a weak trend in the overseas market on assessment of the US economic recovery by investors and the impact on borrowing costs amid signs of slowing physical demand weighed on gold prices at the futures trade here.
Globally, the yellow metal lost 0.3 per cent to $1,313.98 an ounce in early trade in Singapore today.
Comments
COMMENT NOW
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.