Advertisement

HindustanTimes Thu,10 Jul 2014

Gold futures down 0.26 % on rising rupee

PTI  New Delhi, September 27, 2013
First Published: 13:14 IST(27/9/2013) | Last Updated: 13:16 IST(27/9/2013)

Gold futures prices on Friday fell by 0.26 % to Rs. 29,787 per 10 grams as speculators offloaded their positions, taking weak cues from the global market amid rising rupee.

Advertisement

Besides, subdued demand at spot markets also put pressure on the prices

At the Multi Commodity Exchange, gold prices for delivery in October fell by Rs. 78, or 0.26%, to Rs. 29,787 per 10 grams in business turnover of 490 lots.

Similarly, metal prices for delivery in far-month December declined by Rs. 23, or 0.08%, to Rs. 29,396 per 10 grams in 155 lots.

Analysts said the fall in gold futures was mostly attributed to a weak trend overseas and a rising rupee, which made dollar-quoted precious metal cheaper.

Slackened demand at domestic spot markets, too put pressure on the prices, they said.

Globally, gold prices fell 0.70% to trade at $1,323.80 an ounce in New York on Thursday.


Advertisement
more from Business

Sensex crashes 518 pts on rail budget, profit-booking

The railway budget appeared to give the jitters to a stock market in the midst of a heady rally.  The benchmark Sensex plunged 2%, attributed to a blow-expectation rail budget on the one hand profit-booking after a new life-time high reached a day earlier.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved