For Quick Alerts
For Daily Alerts

Gold Drops After Strong US Jobs Data


Gold futures in India were seen trading lower tracking global cues weighed by strong US jobs data. Gold sentiment was weighed on hopes of more monetary stimulus from the central banks which can negatively impact on gold.

Analysts said that the drop in gold price was due to surge in equities and dollar after the reports of strong US jobs data.

Check gold rates in India

Gold Drops After Strong US Jobs Data

At the Multi Commodity Exchange, gold for delivery in August eased to Rs 31,576 per 10 gram. The metal for delivery in far-month October recovered the day loses and was trading at Rs 32,045 per 10 gram.

Last week, gold surged to two year high after the Britain voted to exit from the EU as gold is considered as a hedge against the inflationary risk benefited from Brexit decision.l

International spot gold was seen trading at $1,357 an ounce.

Read more about: gold gold futures
Company Search
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