Tags:
Journalism of Courage
Gold prices declined by Rs 97 to Rs 28,490 per 10 gm in futures trade today as speculators offloaded their positions,tracking a weak Asian trend.
Trading sentiment turned bearish as gold declined in Asian markets over concern that worsening Europe’s debt crisis boosted the dollar.
At the Multi Commodity Exchange,gold for delivery in June declined by Rs 97,or 0.34 per cent,to Rs 28,490 per 10 gm in business turnover of 4,208 lots.
Similarly,the metal for delivery in August moved down by Rs 94,or 0.32 per cent,to Rs 28,889 per 10 gm in 140 lots.
Marketmen said speculators offloaded their positions on the back of a weakening trend in the Asian region mainly led to fall in gold prices at futures trade.
Meanwhile,gold in Singapore,lost 0.6 per cent to a one-week low of USD 1,648.82 an ounce.
