Business Market 11 Sep 2017 Gold futures slide o ...

Gold futures slide on weak global cues, profit-booking       

PTI
Published Sep 11, 2017, 11:16 am IST
Updated Sep 11, 2017, 11:16 am IST
Meanwhile, gold traded 0.69 per cent lower at USD 1,336.70 an ounce in Singapore on Monday.
Gold futures fell 0.74 per cent to Rs 30,210 per 10 grams on Monday.
 Gold futures fell 0.74 per cent to Rs 30,210 per 10 grams on Monday.

New Delhi: Gold futures fell 0.74 per cent to Rs 30,210 per 10 grams on Monday largely in sync with a weak trend overseas where the precious metal retreated from over 1-year high as dollar gains ground.

Besides, profit-booking by participants weighed on the gold prices.

 

At the Multi Commodity Exchange, gold for delivery in December was trading down Rs 224, or 0.74 per cent, to Rs 30,210 per 10 grams, in a business turnover of 13 lots.

In a similar move, gold to be delivered in October dropped by Rs 219, to Rs 30,049 per 10 grams in a business turnover of 355 lots.

Market analysts attributed the fall in prices to weak trend overseas as the dollar strengthened against a basket of major currencies as hurricane Irma's force waned and concerns over North Korea, diminishing demand for the precious metals as a safe-haven.

Meanwhile, gold traded 0.69 per cent lower at USD 1,336.70 an ounce in Singapore on Monday.

The precious metal had hit USD 1,357.54 last week, its highest level since August 2016.

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