Gold demand moderate as prices hit two-week low

MARKETS-INDIA-PRECIOUS-GOLD:Gold demand moderate as prices hit two-week low
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Travelcafe
moneycontrol.com

Home » News » Commodities

Sep 10, 2013, 08.08 PM | Source: Reuters

Gold demand moderate as prices hit two-week low

MARKETS-INDIA-PRECIOUS-GOLD:Gold demand moderate as prices hit two-week low

Like this story, share it with millions of investors on M3

Gold demand moderate as prices hit two-week low

MARKETS-INDIA-PRECIOUS-GOLD:Gold demand moderate as prices hit two-week low

Post Your Comments

Share Cancel

Gold demand moderate as prices hit two-week low
Gold futures extended losses on Tuesday to hit their lowest level in more than two weeks on a strong rupee and a drop in overseas prices, though demand was moderate in local spot markets as traders sought some price stability.

At 1500 IST, the actively traded gold for October delivery on the Multi Commodity Exchange (MCX) was 1.11 percent lower at Rs 31,189 per 10 grams, after hitting a low of Rs 31,150, a level last seen on August 23.

The rupee plays an important role in determining the landed cost of the dollar-quoted yellow metal. It rose on Tuesday.

In the overseas market, gold tracked oil lower on Tuesday after Russia offered to work with Damascus to put Syria's chemical weapons under international control, while firmer equities also dented the precious metal's appeal.

"Some traders are putting orders as the government has clarified import rules and prices are also falling. But some jewellers are waiting for more correction in prices," said a Mumbai-based dealer with a private bank.

Customs department clarified new gold import rules last week.

Silver for September delivery on the MCX was 2.01 percent lower at Rs 53,030 per kg.

Tags  Gold futures

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Gold demand moderate as prices hit two-week low

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login