Gold prices decline in futures trade on weak global cues
Market analysts said gold weakened globally after the US Federal Reserve signalled that it would raise US interest rates, which would put pressure on domestic gold prices.
- Mar 30, 2015,
- Updated Mar 30, 2015 11:51 AM IST
Gold prices shed 0.56 per cent to Rs 26,420 per 10 grams in futures trade on Monday as participants offloaded their positions after rates of the precious metal dropped in global markets.
Market analysts said gold weakened in the overseas markets after the US Federal Reserve signalled that it would raise US interest rates, which would boost the dollar and put pressure on the precious metal prices in the domestic market.
Gold for delivery in April contracts, fell by Rs 149 (or 0.56 per cent), to trade at Rs 26,420 per 10 gram at the Multi Commodity Exchange. It clocked a turnover of 176 lots.
Similarly, the yellow metal for delivery in June fell by Rs 136 (or 0.51 per cent), to Rs 26,695 per 10 gram in a business turnover of 95 lots.
Globally, gold lost 0.5 per cent to US $1,192.50 an ounce in Singapore.
Gold prices shed 0.56 per cent to Rs 26,420 per 10 grams in futures trade on Monday as participants offloaded their positions after rates of the precious metal dropped in global markets.
Market analysts said gold weakened in the overseas markets after the US Federal Reserve signalled that it would raise US interest rates, which would boost the dollar and put pressure on the precious metal prices in the domestic market.
Gold for delivery in April contracts, fell by Rs 149 (or 0.56 per cent), to trade at Rs 26,420 per 10 gram at the Multi Commodity Exchange. It clocked a turnover of 176 lots.
Similarly, the yellow metal for delivery in June fell by Rs 136 (or 0.51 per cent), to Rs 26,695 per 10 gram in a business turnover of 95 lots.
Globally, gold lost 0.5 per cent to US $1,192.50 an ounce in Singapore.