Gold decline in futures on weak overseas trend

Last Updated: Friday, December 4, 2009 - 15:53

New Delhi: Gold futures prices fell 0.82 percent in futures trading on Friday as traders indulged in reducing their holdings sparked by a weak global trend.

The metal on the MCX counter for June month contract fell
by 0.82 percent to Rs 18,099 per ten gram in trading business
of five lots.

Gold for April contract lost 0.29 percent to Rs
18,170 per ten gram in 391 lots while current-month December
contract declined by 0.12 percent to Rs 18,100 per ten gram
in trading of 91 lots.

Marketmen said the precious metal overseas trend where
the gold fell for a second day on speculation that signs of a
slowing recovery will boost the dollar and as record prices
deter investors.

They said the metal fell to 1,204 dollar an ounce in
Asian trading from its record high level of 1,226 dollar.

PTI



First Published: Friday, December 4, 2009 - 15:53
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