Gold Futures Slide on Weak Global Cues – Gold Silver Reports

Gold Silver Reports (GSR) – At the Multi Commodity Exchange, gold prices for delivery in December was down by Rs 77, or 0.25 percent, to Rs 30,802 per 10 gram in a business turnover of 109 lots.

Gold prices fell 0.25 percent to Rs 30,802 per 10 gram in futures trade Tuesday as speculators cut down their bets amid a weak global trend.

The gold for delivery in February next year, too, was quoting lower by Rs 76, or 0.24 percent, at Rs 31,060 per 10 gram in 20 lots.

Meanwhile, gold fell 0.20 percent at USD 1,222.40 an ounce in Singapore.

Analysts attributed the fall in prices to trimming of positions by participants, tracking a weak trend in gold market as the dollar was pressured by weak US economic data and cautious comments about the global economy from Federal Reserve officials.

Spread the love

Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

Leave a Comment