Thursday, 13 February 2014

PRECIOUS METALS TIPS FEBRUARY 13, 2014

D A I L Y B U Z Z

GOLD

  • Amid a weak trend overseas and profit-booking by speculators, gold prices fell 0.26 per cent to Rs 29,028 per 10 grams in futures trade today.
  • At the Multi Commodity Exchange, gold for delivery in April eased by Rs 76, or 0.26 per cent, to Rs 29,028 per 10 gm in business turnover of 176 lots.
  • Likewise, the metal for delivery in far-month June shed Rs 48, or 0.17 per cent, to Rs 28,707 per 10 gm in 13 lots. Analysts said besides profit-booking by speculators, a weak trend in the overseas markets as a five-day advance damped physical demand and US Federal Reserve Chairman pledged to continue with a gradual tapering of stimulus, mainly put pressure on gold prices at futures trade here.
  • Globally, gold fell 0.50 per cent to $1,284.98 an ounce in Singapore today.

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