Advertisement

HindustanTimes Wed,22 Oct 2014

Gold futures down 0.38% on weak global cues

PTI  New Delhi, October 15, 2013
First Published: 11:54 IST(15/10/2013) | Last Updated: 11:59 IST(15/10/2013)

Amid a weak overseas trend, gold prices fell 0.38% to Rs. 28,396 per 10 gm in futures trade on Tuesday as participants indulged in reducing positions.

Advertisement

At the Multi Commodity Exchange, gold for delivery in far-month February, 2014 eased by Rs. 108, or 0.38 %, to Rs. 28,396 per 10 gm in business turnover of 17 lots.

Likewise, the metal for delivery in December shed Rs. 67,or 0.23%, to Rs. 28,720 per 10 gm in 569 lots.

Analysts said a weak trend in the overseas markets amid speculation that US lawmakers will forge a deal to avoid breaching the nation's debt ceiling and end a two-week partial government shutdown, mainly weighed on gold futures in India.

Globally, gold fell by 0.21% to $1,270.60 an ounce in Singapore on Tuesday.


Advertisement
more from Business

Gold is glittering this Dhanteras

Gold is glittering this Dhanteras as jewellers are experiencing good sales driven by better prices compared to last year. Last year, there was a supply crunch of gold in the market after the government hiked its import duty to 15% to curb higher import as that was causing imbalance in the current account deficit in the country.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved