Gold futures flat amid weakening physical demand

Gold futures flat amid weakening physical demand
Gold futures were trading flat in the domestic market on Monday as investors and speculators stayed cautious over booking fresh positions in the industrial metal amid slowing physical demand for the bullion in Asia during the Chinese Lunar New Year.

Markets will remain closed in China, which may have overtaken India as the world's biggest bullion consumer nation, through February 6 because of the Chinese Lunar New Year.

Gold futures for February 2014 contract, at MCX, is trading at Rs. 29,462 per 10 grams, unchanged, after opening at Rs. 29,500, against the previous closing price of Rs 29,462. It touched an intra-day low of Rs 29,399. (At 11:15 AM).

Dion Global Solutions Ltd.

Read more about: gold, gold futures, bullion, asia
Story first published: Monday, February 3, 2014, 12:43 [IST]
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