Business Standard

Gold futures decline 0.35% on weak global cues

Fall in demand at domestic spot markets contributes to downtrend

Image

Press Trust of India New Delhi

Gold futures prices today fell by 0.35% to Rs 31,790 per 10 grams as speculators reduced their exposures amid a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in December fell by Rs 113, or 0.35%, to Rs 31,790 per 10 grams, with a business turnover of 2,734 lots.

October gold moved down by Rs 105, or 0.33%, to Rs 31,430 per 10 grams, with a business turnover of 1,069 lots.

Globally, spot gold fell as much as 0.5% to $1,764 an ounce in Singapore today.

Marketmen said besides a weak trend in global markets on signs of a global slowdown, fall in demand at domestic spot markets put pressure on the gold prices at futures trade here.

 

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

First Published: Oct 01 2012 | 11:53 AM IST

Explore News