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Gold price falls for 3rd day, hovering around Rs 27,650 in futures trade

Gold for delivery in August declined by Rs 94, or 0.34 percent, to Rs 27,637 per ten gram Wednesday in business turnover of 1,950 lots.



New Delhi: Continuing its losing streak for the third day, gold prices fell by Rs 94 to Rs 27,637 per ten gram in futures trading Wednesday as speculators engaged in offloading positions, tracking a weak global trend.

At the Multi Commodity Exchange (MCX), gold for delivery in August declined by Rs 94, or 0.34 percent, to Rs 27,637 per ten gram in business turnover of 1,950 lots.

Similarly, the yellow metal for delivery in far-month October lost Rs 71, or 0.26 percent, to Rs 27,828 per ten gram in 36 lots.

Analysts attributed the fall in gold futures to a weak trend overseas as investors weighed the outlook for the US economy against speculation that a rally to the highest level in two months may spur sales.

Meanwhile, gold shed 0.6 percent to USD 1,310.70 an ounce in Singapore.

From Zee News

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