Gold prices fall as dollar firms

Posted By: Religare
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Gold prices fall as dollar firms
Gold prices fell on Wednesday on renewed worries about the euro-zone debt crisis as yields on Spanish debt rose in the mist of rising doubt over its ability to stabilize its finances which boosted demand for dollars that ultimately sent the gold falling. 

Gold futures for June 2012 contract, at MCX, were trading at Rs. 28,591 per 10 grams, down by 0.15 per cent after opening at Rs. 28,601 against the previous closing price of Rs. 28,633. It touched the intra-day low of Rs. 28,541 till the trading at 3.13 pm IST

Yesterday, prices rose as hopes for more monetary easing by the Federal Reserve after weak U.S. jobs data and higher physical demand for the yellow metal after jewelers in India called off their three-week-old strike supported sentiment.

Read more about: gold, silver, mcx, euro zpne
Story first published: Wednesday, April 11, 2012, 13:31 [IST]
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