Precious Metals
Amidst a weak trend overseas, gold prices fell 0.33 per cent to Rs 27,132 per 10 gram in futures trade today as speculators indulged in trimming positions.
At the Multi Commodity Exchange, gold for delivery in far-month December contracts eased by Rs 89, or 0.33 per cent, to Rs 27,132 per 10 gram in business turnover of 15 lots.
Likewise, the metal for delivery in October contracts shed Rs 78, or 0.29 per cent, to Rs 26,908 per 10 gram in 355 lots.
Analysts said a weak trend in the overseas markets as speculation that US borrowing costs will rise sooner-than- expected strengthened the dollar, eroding demand for precious metals as alternative investments put pressure on the gold prices at futures trade here.
Besides, a weakening trend at the domestic physical market on slackened demand due to ongoing ' Sharads', an inauspicious fortnight in Hindu mythology for making fresh purchases, weighed on the prices, they said.
Globally, gold lost 0.70 per cent to trade USD 1,232.33 an ounce in Singapore today, the lowest since January 23.
D A I L Y B U Z Z
GOLD Amidst a weak trend overseas, gold prices fell 0.33 per cent to Rs 27,132 per 10 gram in futures trade today as speculators indulged in trimming positions.
At the Multi Commodity Exchange, gold for delivery in far-month December contracts eased by Rs 89, or 0.33 per cent, to Rs 27,132 per 10 gram in business turnover of 15 lots.
Likewise, the metal for delivery in October contracts shed Rs 78, or 0.29 per cent, to Rs 26,908 per 10 gram in 355 lots.
Analysts said a weak trend in the overseas markets as speculation that US borrowing costs will rise sooner-than- expected strengthened the dollar, eroding demand for precious metals as alternative investments put pressure on the gold prices at futures trade here.
Besides, a weakening trend at the domestic physical market on slackened demand due to ongoing ' Sharads', an inauspicious fortnight in Hindu mythology for making fresh purchases, weighed on the prices, they said.
Globally, gold lost 0.70 per cent to trade USD 1,232.33 an ounce in Singapore today, the lowest since January 23.
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