Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsBusinessMarketsGold futures down on global cues

    Gold futures down on global cues

    Gold futures prices fell by 0.33 per cent to Rs 30,952 per 10 grams as speculators reduced their positions, taking weak cues from overseas.

    December 19, 2012 / 11:20 IST

    Gold futures prices fell by 0.33 per cent to Rs 30,952 per 10 grams as speculators reduced their positions, taking weak cues from overseas. At the Multi Commodity Exchange, gold for delivery in far-month February down Rs 104, or 0.33 per cent, to Rs 30,952 per 10 gram in a business turnover of 3,346 lots.


    Also Read: Gold bounces on US dollar but near four-month low


    Similarly, the metal for delivery in April fell by Rs 98, or 0.31 per cent, to Rs 31,374 per 10 grams in 168 lots. Market analysts attributed the fall in gold futures prices to a weak trend overseas where it dropped to the lowest in more than three months as signs that US lawmakers may be closer to a budget deal boosted equities and reduced demand for the metal as an alternative asset.

    Meanwhile, gold fell 1.6 per cent to USD 1,670.70 an ounce in New York last yesterday after dipping to USD 1662, the lowest level since August 31.

    first published: Dec 19, 2012 11:00 am

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347