Gold futures slide on weak global cues

Updated: Wed, Sep 27, 2017
11:59 am
PTI
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED

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.