Gold price dips below Rs 25,000-level; plunges up to Rs 434
Zee Media Bureau
New Delhi: Amid a weak trend overseas, gold prices dipped below Rs 25,000-level by falling up to Rs 434 to Rs 24,941 per ten grams in futures trade on Friday as speculators indulged in trimming positions.
At the Multi Commodity Exchange (MCX), gold for delivery in August last traded down by Rs 372 to Rs 24,999 per 10 gm after moving in range of Rs 24,941-25,339.
However, silver for delivery in July moved higher by Rs 196 to Rs 38,992 per kg.
Analysts said a weak trend in the overseas markets, where gold dipped below USD 1,200 an ounce to trade at nearly three-year low on persistent worries over the US Federal Reserve's plan to wind down its monetary stimulus, put pressure on the gold prices at futures trade here.
Globally, gold fell 0.60 percent, to USD 1,191.79 an ounce after touching a year low of USD 1,180.71 in Singapore today.
With Agency Inputs