Monday, May 20, 2013

Gold price falls 1.54 per cent in futures trade

New Delhi,May 20, 2013:--

Gold prices, which had been plummeting since last week, fell by another Rs 399, or 1.54 per cent, to trade at a Rs 25,556 per 10 grams for delivery in August at the Multi Commodity Exchange. The June contract of gold dropped by Rs 380, or 1.47 per cent, to Rs 25,455 per 10 gm in 2,432 lots.

Analysts said sustained weakness in the overseas markets, where gold dipped to one-month low, put pressure on the precious metal prices at futures trade.

Globally, gold plunged 1.5 per cent to $1,338.85 an ounce, its lowest price since April 18.

Analysts said a decline in ETF holdings and improvement in the US economy also hit the yellow metal\'s appeal.

Gold was traded at Rs 26,700 per 10 grams at spot markets of Delhi on Saturday.

News From:

No comments:

eXTReMe Tracker