Gold futures dip on low demand, weak global cues
15/12/2017
Gold futures dip on low demand, weak global cues
15/12/2017 14:32
Gold futures tumbled in the domestic market on Friday on easing demand from local jewellers amid a weak trend overseas.
Traders said fall in demand from local jewellers and retailers at existing levels pulled down the gold prices.
Besides, weak global cues as US Fed decided to hike interest rates, reducing the appeal of non-yielding bullion, dampened the sentiment.
At the MCX, gold futures for February 2018 contract is trading at Rs 28284 per 10 grams, down by 0.12 per cent, after opening at Rs 28273, against a previous close of Rs 28317. It touched the intra-day low of Rs 28205 (at 14:37 hours).
15/12/2017
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Gold futures dip on low demand, weak global cues
15/12/2017 14:32
Gold futures tumbled in the domestic market on Friday on easing demand from local jewellers amid a weak trend overseas.
Traders said fall in demand from local jewellers and retailers at existing levels pulled down the gold prices.
Besides, weak global cues as US Fed decided to hike interest rates, reducing the appeal of non-yielding bullion, dampened the sentiment.
At the MCX, gold futures for February 2018 contract is trading at Rs 28284 per 10 grams, down by 0.12 per cent, after opening at Rs 28273, against a previous close of Rs 28317. It touched the intra-day low of Rs 28205 (at 14:37 hours).
