Monday, November 29, 1999

Gold futures slip to Rs 18,736/10 gm

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Gold prices drifted by Rs 11 or 0.06 per cent to Rs 18,736 per ten gram in futures trade on emergence of profit taking by speculators, amid fall in demand at existing higher levels.At the Multi Commodity Exchange, gold for October contract lost Rs 11, or 0.06 per cent to Rs 18,736 per ten gram, with an open interest of 1,640 lots.The metal for delivery in August contract also traded lower by Rs 7, or 0.04 per cent to Rs 18,657 per ten gram, with a business turnover of 19,133 lots.Market experts said besides, profit taking by speculators amid weakening trend in overseas markets led to a fall in gold prices at futures trade.Meanwhile, gold traded marginally lower by 0.04 per cent to USD 1,233.90 an ounce in the Asian region.

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