Tags:
Journalism of Courage
Gold futures prices on Wednesday fell by Rs 39 to Rs 29,180 per 10 gm as speculators offloaded their positions largely in tune with a weakening trend overseas.
At the Multi Commodity Exchange,gold for delivery in August fell by Rs 39,or 0.13 per cent,to Rs 29,180 per 10 gm in a business turnover of 1,854 lots.
Similarly,the metal for delivery in June moved down by Rs 32,or 0.11 per cent,to Rs 28,827 per 10 gm in business turnover of 2,873 lots.
Market analysts said speculators offloaded their positions in tandem with a weak trend in overseas market on concern that the debt crisis in Europe is escalating strengthened the dollar,reducing appeal of the precious metal,mainly led to the fall in gold prices at futures trade.
Meanwhile,gold lost as much as 0.20 per cent to USD 1,552.02 an ounce in early trade on Wednesday in Singapore.
