Gold futures down on sluggish overseas trend
12/12/2017
Gold futures down on sluggish overseas trend
12/12/2017 16:12
Gold futures were down in the domestic market on Tuesday hurt by a sluggish trend overseas and lower demand from jewellers. Traders said, other than the weakness in demand from local jewellers, a weak trend overseas on higher chances of a rate hike by the US Federal Reserve later this week diminishing appeal for precious metals as a safe haven investment, led to the fall. At the MCX, gold futures for February 2018 contract is trading at Rs 28173 per 10 grams, down by 0.61 per cent, after opening at Rs 28365, against a previous close of Rs 28347. It touched the intra-day low of Rs 28055 (at 16:17 hours).
12/12/2017
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Gold futures down on sluggish overseas trend
12/12/2017 16:12
Gold futures were down in the domestic market on Tuesday hurt by a sluggish trend overseas and lower demand from jewellers. Traders said, other than the weakness in demand from local jewellers, a weak trend overseas on higher chances of a rate hike by the US Federal Reserve later this week diminishing appeal for precious metals as a safe haven investment, led to the fall. At the MCX, gold futures for February 2018 contract is trading at Rs 28173 per 10 grams, down by 0.61 per cent, after opening at Rs 28365, against a previous close of Rs 28347. It touched the intra-day low of Rs 28055 (at 16:17 hours).
