Monday, September 23, 2013

Gold price down 0.92 per cent in futures trade

Gold prices fell 0.92 per cent to Rs 29,638 per 10 grams in futures trade on Monday, as speculators offloaded their positions.

Market analysts said the fall in gold futures was mostly attributed to a weak trend overseas as investors weighed the outlook for stimulus in the US after a Federal Reserve policy maker said a small taper may occur next month.

Gold prices fell 0.90 per cent to $1,313.69 an ounce in Singapore on Monday.

At the Multi Commodity Exchange, gold prices for delivery in October fell Rs 274, or 0.92 per cent, to Rs 29,638, per 10 grams in business turnover of 1,658 lots.

On similar lines, metal prices for delivery in far-month December eased by Rs 217, or 0.73 per cent, to Rs 29,594 per ten grams in 225 lots.
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