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Gold Futures Fall; Trades Below Rs 25K Mark

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Gold Futures fell in the electronic trade tracking overseas market followed by dip in oil prices, dragging the metal lower.

 

International gold on Monday fell to a 5 year low. International spot gold slipped to $1,107 an ounce in today's trade.

Check gold rates in India

Gold Futures Fall; Trades Below Rs 25K Mark

Analysts are seeing the possibility of an interest rate hike in Sept in the US, which is why there is already pressure on gold prices.

Strong dollar also weighed on the sentiment, as strong dollar makes gold more expensive for those holding other currencies, thus diminishing the demand for the yellow metal.

Gold Futures on the Multi Commodity Exchange for August delivery was seen trading at Rs 24,964 per 10 grams, lower by Rs 70 at 2.15 pm IST.

Gold for delivery in far-month October fell by Rs 60, or 0.24 per cent, to Rs 25,183 per 10 grams.

GoodReturns.in

Story first published: Tuesday, July 21, 2015, 14:27 [IST]
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