Gold price down 0.89 per cent in futures trade


Gold price, after Tuesday's partial recovery, fell by 0.89 per cent in futures trade to Rs 25,536 per 10 grams, after participants booked profits.

Market analysts said after Tuesday's small recovery, participants preferred to book profits despite gold advanced for the second day in the global markets, weighed on the precious metal at futures trade.

At the Multi Commodity Exchange, gold for delivery in June fell by Rs 230 to Rs 25,536 per 10 grams in a business turnover of 6,107 lots. Similarly, the metal for delivery in far-month August was down by Rs 234, or 0.89 per cent to Rs 25,952 per 10 grams in 259 lots.

Globally, gold gained 1.1 per cent to $1,382.85 an ounce in Singapore on speculation that the biggest slump in three decades will spur increased purchases from investors and consumers.

gaurav tomar
pgdm 2nd sem