Yellow metal in reverse gear

18/04/2017 13:03

Gold futures were trading lower during afternoon trade in the domestic market on Tuesday as investors and speculators exited their positions in the precious metal as investors braced for riskier assets after dollar bounced back from a 5-month low after the US Treasury Secretary’s comments supported a stronger currency.

Although, escalating tensions over North Korea, restricted further fall in prices of yellow metal.

At the MCX, gold futures for June 2017 contract is trading at Rs 29315 per 10 grams, down by 0.39 per cent, after opening at Rs 29401, against a previous close of Rs 29430. It touched the intra-day low of Rs 29278 (at 12:53 hours).

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