Gold price slips below Rs 27,500 level in futures trade
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Gold price slips below Rs 27,500 level in futures trade

Last Updated: Monday, July 07, 2014, 11:13
 
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Gold price slips below Rs 27,500 level in futures trade
New Delhi: Gold prices fell by Rs 58 to Rs 27,499 per 10 grams in futures trade Monday as speculators trimmed positions amid a weak trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in August eased by Rs 58, or 0.21 percent, to Rs 27,499 per 10 grams in a business turnover of 101 lots.

Similarly, the metal for delivery in October shed Rs 50, or 0.18 percent, to Rs 27,586 per 10 grams in just one lot.

Analysts said a weak trend in overseas markets as the outlook for higher borrowing costs in the US strengthened the dollar, reducing demand for the precious metal, put pressure on gold prices at futures trade here.

Globally, gold traded 0.40 percent lower at USD 1,315.57 an ounce in Singapore today.



PTI

First Published: Monday, July 07, 2014, 11:11


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