Gold Prices Drop Marginally

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In line with weak international trend, gold futures were trading lower by Rs 150 at Rs 31,178 per 10 gram as speculators trimmed their positions.

Gold Prices Drop Marginally
Gold for delivery in October dropped Rs 150 or 0.50 per cent to Rs 31,178 per 10 gram in a business turnover of 1,034 lots at the Multi Commodity Exchange.

Similarly, the metal for delivery in far-month December was trading down Rs 141, or 0.45 per cent, to Rs 31,310 per 10 gram in 176 lots.

The fall in gold futures was mostly in step with a weak trend overseas after its biggest weekly advance in two months, as the dollar erased losses, dimming the metal s appeal as an alternative investment, analysts said.

Meanwhile, gold prices fell 0.21 per cent, to USD 1,334.70 an ounce in Singapore today after a 2.1 per cent gain last week, the most since the period to July 29.

With inputs from PTI

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