Gold Futures Drop Rs 51 On Weak Global Cues

Posted By: Staff
Subscribe to GoodReturns

New Delhi, Sep 22 (PTI) Amid a weakening global trend, gold futures fell by Rs 51 to Rs 26,294 per 10 gram today as speculators reduced their positions.

Check gold rates in India

Gold Futures Drop Rs 51 On Weak Global Cues

Gold for delivery in October dropped by Rs 51, or 0.19 per cent, to Rs 26,294 per 10 gram in a business turnover of 443 lots at the Multi Commodity Exchange.

In a similar fashion, the metal for delivery in far-month December shed Rs 49, or 0.18 per cent, to Rs 26,487 per 10 gram in 10 lots.

Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas amid speculation that US interest rates may still increase before the year-end as Federal Reserve officials sought to ease concern over the health of the economy, eroding safe haven demand.

Gold prices fell by 0.57 per cent to USD 1,133.40 an ounce in New York yesterday.


Read more about: gold futures, dollar, gold
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'


Get Latest News alerts from Goodreturns