Gold Futures Fall on Low Demand - MCX Prices Drop
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By Rediff Money Desk, New Delhi May 17, 2024 14:13
Gold prices declined in futures trade on Friday, with speculators reducing their positions. Analysts attributed the fall to weak global cues.
Photograph: Arnd Wiegmann/Reuters
New Delhi, May 17 (PTI) Gold price on Friday declined Rs 11 to Rs 72,969 per 10 grams in futures trade as speculators reduced their positions.
On the MCX, gold contracts for June delivery traded lower Rs 11 at Rs 72,969 per 10 grams in a business turnover of 10,865 lots.
Analysts attributed the fall in the precious metal price to weak global cues.
Globally, gold was trading 0.04 per cent lower at USD 2,386.40 per ounce in New York.
On the MCX, gold contracts for June delivery traded lower Rs 11 at Rs 72,969 per 10 grams in a business turnover of 10,865 lots.
Analysts attributed the fall in the precious metal price to weak global cues.
Globally, gold was trading 0.04 per cent lower at USD 2,386.40 per ounce in New York.
Source: PTI
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