Advertisement

HindustanTimes Sun,21 Dec 2014

Gold futures extend losses on global cues, subdued demand

PTI  New Delhi, May 17, 2013
First Published: 11:21 IST(17/5/2013) | Last Updated: 11:24 IST(17/5/2013)

Gold futures prices on Friday fell by 0.31% to Rs. 26,050 per 10 grams as participants indulged in reducing exposures, largely in tandem with a global trend where the metal dipped to one-month low.

Advertisement

At the Multi Commodity Exchange, gold for delivery in June, fell by another Rs. 81, or 0.31%, to trade at Rs. 26,050 per 10 grams in a turnover of 1,790 lots.

Similarly, the metal for delivery in far-month August shed Rs. 57, or 0.22%, to Rs. 26,155 per 10 gm in 160 lots.

Globally, gold lost as much as 0.60% to $1,377.85 an ounce in Singapore.

Analysts said sustained weakness in overseas where gold dipped to one-month low as holdings in exchange-traded products shrank, the dollar gained and a US Federal Reserve policymaker said that stimulus may be reduced within months, putting pressure on the precious metal prices here.

Besides, a weak trend at the domestic spot markets where gold dropped to one-month low also weighed on the prices, they said.

In spot market of Delhi, gold prices crashed by Rs. 500 to Rs. 26,800 per 10 grams in Thursday's trade.


Advertisement
more from Business

Year-end high: Flipkart announces $700 million funding

Flipkart, India’s largest e-commerce marketplace, on Saturday announced a US $700 million (Rs 4434 crore) investment even as 2014, the year that has seen huge fund flow into India’s rising consumer internet industry, is about to end.

markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved