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Gold futures drop 0.30% as speculators trimmed positions

At the Multi Commodity Exchange, gold for delivery in August moved down by Rs 87, or 0.30 per cent, to Rs 29,400 per ten grams in business turnover of two lot.


PTI Last Updated at 03 Aug 2018, 12:08 IST India
Gold futures drop 0.30% as speculators trimmed positions
  • Gold prices fell by 0.30 per cent to Rs 29,400 per 10 grams in futures trade today as speculators trimmed positions, backed by a weak trend overseas. (Image Credit: Flickr)

Gold prices fell by 0.30 per cent to Rs 29,400 per 10 grams in futures trade today as speculators trimmed positions, backed by a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in August moved down by Rs 87, or 0.30 per cent, to Rs 29,400 per ten grams in business turnover of two lot.

Similarly, the yellow metal for delivery in October contract was trading lower Rs 73, or 0.25 per cent, to Rs 29,540 per ten grams in 936 lots.

Analysts said offloading of positions by participants in tandem with a weak trend overseas amid firmer dollar weighed on gold prices at futures trade.

Globally, gold fell 0.16 per cent to USD 1205.30 an ounce in Singapore.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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