Gold Drops On Global Cues, Muted Demand

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Gold futures were trading lower during the morning trade in the domestic market on Tuesday due to subdued demand as speculators cut their bets in the spot market amid rebound in global markets.

Gold Drops On Global Cues, Muted Demand
Gold futures slide as demand hurt for safe-haven assets due to as investors turned their focus to riskier assets amid rebound in global equities.

At the MCX, Gold futures for August 2016 contract is trading at Rs 30,596 per kg, down by 0.32 per cent, after opening at Rs 30,600, against a previous close of Rs 30,695. It touched the intra-day low of Rs 30,567 (At 10:20 hours).

Check gold rates in Indian cities here

Read more about: gold
Story first published: Tuesday, June 21, 2016, 12:50 [IST]
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