Gold futures drops below Rs 30,000 in thin trading

Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
    Gold futures drops below Rs 30,000 in thin trading
    Gold futures dropped in thin trade tracking weak global cues. Spot market is likely to be closed as Indian Trade Unions had called for a two day strike starting today.
     

    Improving signs of the economy will impact on the gold sentiment as US may stop considering stimulus measures which will dent the demand for the yellow metal.

    People may shift their focus to other riskier assets, including equities.

    International gold dropped near to hit near two-month low. Spot gold was seen at $1,607 an ounce.

    At the MCX, Gold futures, for the April 2013 contract, is trading at Rs 29,980 per 10 grams, lower by Rs 72 or 0.24% at 11.10 am IST.

    Recent swings in gold prices have tarnished its reputation as a safe haven, and bullion has moved in tandem with riskier assets.

    GoodReturns.in

    Read more about: gold futures
    Story first published: Wednesday, February 20, 2013, 11:36 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    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