Gold futures slide on weak global cues, profit-booking
08/12/2017
Gold futures slide on weak global cues, profit-booking
08/12/2017 12:10
Gold futures were down in the domestic market on Friday as participants cut their bets amid a weak global trend.
Profit-booking by speculators also weighed on gold prices.
Analysts attributed the fall in gold prices at futures trade to a weak trend overseas where gold is heading for the biggest weekly drop since May as investors anticipate higher US interest rates, and progress on tax reform buoys the dollar, eroding safe-haven appeal of the precious metal.
At the MCX, gold futures for February 2018 contract is trading at Rs 28578 per 10 grams, down by 0.31 per cent, after opening at Rs 28650, against a previous close of Rs 28667. It touched the intra-day low of Rs 28566 (at 12:13hours).
08/12/2017
Commodity Segment
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
Gold futures slide on weak global cues, profit-booking
08/12/2017 12:10
Gold futures were down in the domestic market on Friday as participants cut their bets amid a weak global trend.
Profit-booking by speculators also weighed on gold prices.
Analysts attributed the fall in gold prices at futures trade to a weak trend overseas where gold is heading for the biggest weekly drop since May as investors anticipate higher US interest rates, and progress on tax reform buoys the dollar, eroding safe-haven appeal of the precious metal.
At the MCX, gold futures for February 2018 contract is trading at Rs 28578 per 10 grams, down by 0.31 per cent, after opening at Rs 28650, against a previous close of Rs 28667. It touched the intra-day low of Rs 28566 (at 12:13hours).
