Gold plunges on weak global cues
04/12/2017
Gold plunges on weak global cues
04/12/2017 14:22
Gold futures fell in the domestic market on Monday, taking cues from a weak trend overseas and slack demand from local jewellers.
Traders said that besides a weak trend in the overseas market as strength in dollar reduced appeal for the precious metal as a safe-haven, fall in demand from local jewellers and retailers at domestic spot market, weighed on the gold prices.
At the MCX, gold futures for December 2017 contract is trading at Rs 29025 per 10 grams, down by 0.63 per cent, after opening at Rs 29029, against a previous close of Rs 29209. It touched the intra-day low of Rs 29000 (at 14:26 hours).
04/12/2017
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Gold plunges on weak global cues
04/12/2017 14:22
Gold futures fell in the domestic market on Monday, taking cues from a weak trend overseas and slack demand from local jewellers.
Traders said that besides a weak trend in the overseas market as strength in dollar reduced appeal for the precious metal as a safe-haven, fall in demand from local jewellers and retailers at domestic spot market, weighed on the gold prices.
At the MCX, gold futures for December 2017 contract is trading at Rs 29025 per 10 grams, down by 0.63 per cent, after opening at Rs 29029, against a previous close of Rs 29209. It touched the intra-day low of Rs 29000 (at 14:26 hours).
