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Last Updated : Jun 11, 2019 06:46 PM IST | Source: Moneycontrol.com

Gold futures trading 0.42% lower as weak demand spurs selling

The value of the August contract traded so far is Rs 2,023.12 crore and October contract saw value of Rs 50.82 crore.

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Gold prices fell by Rs 142 at Rs 32,500 per 10 gram at 6 pm in futures trade on June 11 as traders trimmed position on weak demand.

The gold rate touched an intraday high of Rs 32,705 and an intraday low of Rs 32,496 per 10 gram.

On the Multi Commodity Exchange, Gold contracts for October delivery were trading lower by Rs 144, or 0.44 percent, at Rs 32,824 per 10 gram in a business turnover of 1,948 lots, while the August contract saw a business turnover of 16,003 lots.

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The value of the August contract traded so far is Rs 2,023.12 crore and October contract saw value of Rs 50.82 crore.

Similarly, Gold Mini contract for July was trading lower by Rs 160 at Rs 32,451 in a business turnover of 8,218 lots.

MCX Gold is expected to trade negatively with resistance at Rs 32,700 levels and intermediate resistance at Rs 32,585 level. According to Motilal Oswal, sell on a rally is recommended targeting lower support at Rs 32,405-Rs32295 level.

Spot gold was trading lower by $6.67 at $1321.12 an ounce in New York.

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First Published on Jun 11, 2019 06:46 pm
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