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Gold futures fall 0.60 percent
Gold futures fell 0.60 per cent to Rs 26,965 per 10 gram on October 1 as speculators indulged in reducing exposures amid a weak global trend. At the Multi Commodity Exchange, gold prices for delivery in October were trading lower by Rs 164, or 0.60 per cent, at Rs 26,965 per 10 gram in a business turnover of 273 lots.
New Delhi:Gold futures fell 0.60 per cent to Rs 26,965 per 10 gram on October 1 as speculators indulged in reducing exposures amid a weak global trend. At the Multi Commodity Exchange, gold prices for delivery in October were trading lower by Rs 164, or 0.60 per cent, at Rs 26,965 per 10 gram in a business turnover of 273 lots.
On similar lines, metal prices for delivery in December eased by Rs 154, or 0.57 per cent, to Rs 26,818 per 10 gram in 273 lots. Market analysts said the fall in gold futures was mostly due to a weak overseas market where it fell to the lowest since January as the outlook for higher US interest rates and a stronger dollar cut demand for precious metals as hedges against inflation. Meanwhile, gold traded 0.19 per cent lower at USD 1,206.40 an ounce in Singapore
