Gold futures tad lower on weak physical demand
23/06/2014 13:06
Gold futures were trading with slim losses in the domestic market on Monday as investors and speculators were cautious over booking fresh positions in the precious metal as the recent rise in prices dented the affordability of the bullion, weakening sentiment.
However, gold may continue to benefit from its safe haven appeal as the ongoing conflict in Iraq threatens to spill over to other countries and cause havoc in the global oil market, clouding the outlook for the world economy.
Gold futures for June 2014 contract, at MCX, is trading at Rs. 27,650 per 10 grams, down by 0.07 per cent, after opening at Rs. 27,616, against the previous closing price of Rs 27,668. It touched an intra-day low of Rs 27,605. (At 10:27 AM).
23/06/2014 13:06
Gold futures were trading with slim losses in the domestic market on Monday as investors and speculators were cautious over booking fresh positions in the precious metal as the recent rise in prices dented the affordability of the bullion, weakening sentiment.
However, gold may continue to benefit from its safe haven appeal as the ongoing conflict in Iraq threatens to spill over to other countries and cause havoc in the global oil market, clouding the outlook for the world economy.
Gold futures for June 2014 contract, at MCX, is trading at Rs. 27,650 per 10 grams, down by 0.07 per cent, after opening at Rs. 27,616, against the previous closing price of Rs 27,668. It touched an intra-day low of Rs 27,605. (At 10:27 AM).
