Gold prices slide by 0.24 per cent in futures trade on weak cues

New Delhi, May 24 

 

Gold prices dipped by 0.24 per cent to Rs 31,590 per 10 gram in futures trade on Friday as speculators reduced exposure.

 

On the Multi Commodity Exchange, gold contracts for June delivery fell by Rs 77, or 0.24 per cent, to Rs 31,590 per 10 gram in a business turnover of 6,022 lots.

 

Analysts said off-loading of positions by participants to book profits influenced gold prices at the futures trade.

 

Moreover, a strong rupee against the US dollar further dented the price of the precious metal in domestic markets.

Globally, the yellow metal traded 0.20 per cent lower at USD 1,288.40 an ounce in New York. — PTI  

from The Tribune http://bit.ly/2VOfI2d
via Today’s News Headlines