Gold futures fall by 0.86%

Posted By: Religare
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Gold futures fall by 0.86%
Gold futures fell on Thursday as investors remained nervous about the euro zone debt crisis amid the year-end rush to liquidate positions.

Gold futures for February 2012 contract, at MCX, was trading at Rs. 27,941 per 10 grams, down by 0.86% after opening at Rs. 28,060 against the previous closing price of Rs. 28,183.

It touched the intra-day low of Rs. 27,906 till the trading. (At 10.16 AM today).

At the Commodity Exchange (COMEX), Gold future for February 2012 delivery traded at US$1,575.1 per ounce, down by 0.74%. It opened at US$1,580 against the previous closing price of US$1,586.9. It touched the intra-day low of US$1,571.5. (At 10.25 am IST).

Gold is the oldest precious metal known to man and for thousands of years it has been valued as a global currency, a commodity, an investment and simply an object of beauty.

Some of the worlds gold markets are OTC markets at London (LBMA), New York and Zurich, Gold derivative exchanges at New York; CME (COMEX), Tokyo (TOCOM) and Mumbai (MCX) while Istanbul, Dubai, Hong Kong and Singapore are doorways to important consuming regions.

Dion Global Solutions Ltd

Read more about: gold, euro zone, debt, currency
Story first published: Thursday, December 15, 2011, 13:30 [IST]
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