Monday, November 29, 1999

Gold futures dip on global cues

News posted by www.newsinfoline.com

New Delhi, May 10 (PTI) Gold futures prices fell by Rs 334 to Rs 17,559 per ten gram today as speculators indulged in offloading on the back of weakening global trend. Trading sentiment turned bearish after gold fell from a near five-month high on speculation that an emergency fund agreed by European policy makers will be sufficient to contain sovereign debt risks and help maintain growth in the region. At the Multi Commodity Exchange counter, gold for June contract fell by Rs 334, or 1.86 per cent, to Rs 17,559 per ten gram with an open interest of 13,955 lots. The metal for delivery in August also dropped by Rs 326, or 1.81 per cent, to Rs 17,693 per ten gram in 2,328 lots. Marketmen said fresh fall in gold prices at futures market was due to weakening global trend. Meanwhile, gold fell by one per cent to USD 1,196.10 an ounce in Singapore.

News posted by www.newsinfoline.com

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