Gold futures reverse morning gains

Business

oi-Sneha

By Sneha B K

Published: Tuesday, May 14, 2013, 14:46 [IST]

Gold futures reversed morning gains and was seen trading lower on the Multi Commodity Exchange.

International gold recovered after falling 1% on Monday as dollar softened in today's trade. Spot gold was seen trading at $1,436 an ounce.

Domestically, gold futures for latest delivery was seen trading at Rs 26,796 per 10 grams lower by Rs 58 on the MCX at 2.40 pm IST.

Silver futures for July delivery was seen trading at Rs 44,880 per kg lower by Rs 238 or 0.53%.

Yesterday, gold lost its sheen on the auspicious Akshaya Tritiya day by falling nearly Rs 400. However, retail purchase got a boost with jewellers saying sales recording at least 15 percent growth, reports PTI.

GoodReturns.in