Yellow metal dips on French election result

Yellow metal dips on French election result

25/04/2017 17:03

Gold futures were trading lower during the evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the precious metal as safe-haven buying dried up on emergence of risk appetite among investors and boosting equities, after centrist candidate Emmanuel Macron won the first round of French presidential election.

However, worries over North Korea as it conducted a big live-fire exercise on Tuesday to mark the foundation of its military, restricted further fall in prices of precious metal.

At the MCX, gold futures for June 2017 contract is trading at Rs 28939 per 10 grams, down by 0.66 per cent, after opening at Rs 29070, against a previous close of Rs 29131. It touched the intra-day low of Rs 28918 (at 17:05 hours).

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