International gold dips to six-month low

Posted By:
Subscribe to GoodReturns

International gold dips to six-month low
International gold on Friday slipped to six month low as fall in euro due to the downbeat European economic growth figures dented the gold sentiment.

As per reports, the yellow metal hit a low of $1,596.70 an ounce, which is its weakest since Aug. 16. The spot gold was last seen at $1,610 an ounce.

Gold futures for April 2013 contract, at MCX, were trading flat at Rs. 30,193 per 10 grams.

On Friday, Delhi spot gold of 99.9 and 99.5% purity was at Rs 30,625 and Rs 30,425 per 10 grams, respectively.

Rising gold imports have pushed India's current account deficit to an all-time high of 5.4 per cent in Jul-Sep 2012.

G20 meet will be in focus this week for clues on global growth and currencies which will decide the direction for the yellow metal.

As per the Kitco News Gold Survey, out of 33 participants, 25 responded this week. Of those 25 participants, nine see prices up, while 12 see prices down, and four see prices moving sideways or are neutral.

GoodReturns.in

Read more about: gold, euro
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?