Gold Futures Decline on Low Demand | MCX | PTI
By Rediff Money Desk, NEWDELHI Apr 30, 2024 13:51
Gold prices fell on the MCX due to weak global cues, profit booking, and cautious trading ahead of the FOMC meeting. Gold was trading 1.27% lower in New York.
New Delhi, Apr 30 (PTI) Gold prices on Tuesday declined by Rs 555 to Rs 71,047 per 10 grams in futures trade as speculators reduced their positions.
On the MCX, gold contracts for June delivery traded lower Rs 555 at Rs 71,047 per 10 grams in a business turnover of 19,243 lots.
Analysts attributed the fall in gold prices to weak global cues and profit booking at higher level.
Globally, gold was trading 1.27 per cent lower at USD 2,327.80 per ounce in New York.
According to Praveen Singh, Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas, "Spot gold declined as the precious metal remains in consolidating mode ahead of the key event of two-day Federal Open Market Committee (FOMC) meeting and data releases like US manufacturing and services PMIs and non-farm payroll report.
On the MCX, gold contracts for June delivery traded lower Rs 555 at Rs 71,047 per 10 grams in a business turnover of 19,243 lots.
Analysts attributed the fall in gold prices to weak global cues and profit booking at higher level.
Globally, gold was trading 1.27 per cent lower at USD 2,327.80 per ounce in New York.
According to Praveen Singh, Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas, "Spot gold declined as the precious metal remains in consolidating mode ahead of the key event of two-day Federal Open Market Committee (FOMC) meeting and data releases like US manufacturing and services PMIs and non-farm payroll report.
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Srestha Finvest
- 0.66 (+ 4.76)
- 32896927
- Vodafone Idea L
- 8.45 (+ 4.06)
- 28557277
- Standard Capital
- 1.14 (+ 0.88)
- 17361276
- Alstone Textiles
- 0.83 (+ 5.06)
- 14796552
- AvanceTechnologies
- 0.89 (+ 4.71)
- 10049569
MORE NEWS
UPL, Jaidev Shroff Settle Sebi Case for Rs 20.2...
UPL and its promoter Jaidev Shroff have settled a Sebi case related to alleged...
Amazon India Sees Surge in Premium Product...
Amazon India witnessed a significant increase in sales of premium products across...
Bengaluru Bullion Market Closed on Balipadyami
The Bengaluru Bullion market is closed on Saturday, November 2nd, 2023, due to the...