Yellow metal loses sheen on global cues

Yellow metal loses sheen on global cues

29/11/2016 13:18

Gold futures fell during the afternoon trade in the domestic market on Tuesday as investors and speculators exited their positions in the precious metal as dollar hold on to losses after US Treasury yields came off of their recent peaks.

The prices of gold decline as the dollar steadied amid caution ahead of the much awaited OPEC meeting in Vienna on Wednesday to cut crude oil production.

At the MCX, gold futures for December 2016 contract is trading at Rs 28705 per 10 grams, down by 0.11 per cent, after opening at Rs 28754, against a previous close of Rs 28736. It touched the intra-day low of Rs 28686 (at 13:02 hours).

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