Gold futures down 0.26 % on rising rupee - Hindustan Times
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Gold futures down 0.26 % on rising rupee

PTI | By, New Delhi
Sep 27, 2013 01:16 PM IST

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

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.

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

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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.

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