Business Standard

Gold down 0.1% on global cues

Metal for delivery in June shed 0.07%

Press Trust of India New Delhi
Gold futures fell by 0.19% to Rs 28,517 per 10 grams today as participants indulged in reducing exposures, tracking a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in April, fell by Rs 54, or 0.19%, to trade at Rs 28,517 per 10 grams in a turnover of 297 lots.

Similarly, the metal for delivery in June shed Rs 19, or 0.07%, to Rs 28,548 per 10 grams in 72 lots.

Globally, gold eased to almost six-week low of $1,304.03 an ounce in Singapore.

Analysts said a weakening trend overseas as further signs of recovery in the US boosted the case for the Federal Reserve to keep reducing stimulus, weighed on gold futures prices here.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 27 2014 | 12:14 PM IST

Explore News