Gold Futures nudge lower; international prices steady

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, April 2, 2014, 12:06 [IST]

Gold Futures edged lower with the April Futures on the MCX trading with marginal losses of Rs 15 at Rs 28,065 on the MCX.

Silver for April delivery on the other hand was trading marginally higher by Rs 37 on the MCX.

In India gold has been trending lower largely on account of gains in the Indian rupee and also on account of a fall in international prices.

Spot gold edged up marginally in the international markets rising 0.3 percent to $1,282 an ounce almost very near its seven-week low of $1,277.

Gold has been falling in the international markets as investors shift their attention to equities. Gold which has been a perfect hedge against eventualities is being shunned by investors, as economic growth around the world continues to rebound.

Gold is expected to remain range bound in the absence of any major triggers. Check gold rates here

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