Gold futures slide on weak global cues

Updated: Wed, Sep 27, 2017
11:59 am
PTI
RELATED NEWS
Modi speech today: PM reveals 5-I formula to turn India into Aatmanirbhar Bharat Modi speech today: PM reveals 5-I formula to turn India into Aatmanirbhar Bharat
Will place draft e-commerce policy in public domain for comments soon: DPIIT Will place draft e-commerce policy in public domain for comments soon: DPIIT
Indian economy to emerge stronger in six months, say business leaders Indian economy to emerge stronger in six months, say business leaders

Gold futures fell 0.09 per cent to Rs 29,845 per ten gram today as participants cut down their bets amid a weak global trend.

At Multi Commodity Exchange, gold for delivery in October shed Rs 27 or 0.09 per cent to Rs 29,845 per ten gram in a business turnover of 353 lots.

Metal for delivery in December also fell by a similar margin to trade at Rs 29,990 per 10 gram in 39 lots.

Market analysts attributed the fall in gold prices to weak trend overseas as the dollar strengthened following an indication of gradual rate hike from the central bank, eroding demand for a safe haven.

Meanwhile, gold traded 1.27 per cent lower at USD 1,293.60 an ounce in New York yesterday.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.