For Quick Alerts
For Daily Alerts

Gold loses sheen; prices drop below Rs 31,000

Gold loses sheen; prices drop below Rs 31,000
Gold dropped in today's trade tracking weak global cues as most of the global markets remained closed on account of Lunar New Year holiday.

International gold dropped to hit near two-month low. However, cheaper prices also failed to attract investors. Spot gold was seen trading at $1,643 an ounce.

Renewed worries over Europe's debt turmoil and a political corruption scandal in Spain affected gold sentiment.

Domestically, gold prices also dropped, spot gold below Rs 31,000 mark. Delhi spot gold of 99.9 and 99.5% purity was at Rs 30,790 and Rs 30,590 per 10 grams, respectively

Gold futures for April delivery was seen trading lower by Rs 61 or 20% at Rs 30,579 per 10 grams on the Multi Commodity Exchange at 2.25 pm IST.

The fall in prices will attract physical buyers of India, who are waiting for the prices to come down.

Read more about: gold mcx
Story first published: Tuesday, February 12, 2013, 14:52 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'


We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more