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Gold prices fall to Rs 29,325 per 10 grams

GOLD

Gold prices declined by Rs 84 to Rs 29,325 per 10 grams due to speculative selling after weak global cues. At the Multi Commodity Exchange, gold for delivery in far-month June shed Rs 84, or 0.29 per cent, to Rs 29,325 per ten grams in a business turnover of 52 lots.

In a similar fashion, the metal for delivery in April fell by Rs 82, or 0.28 per cent, to Rs 29,049 per ten grams in 737 lots.

Analysts said fall in the metal’s prices at futures trade was mostly in tandem with global trend as the dollar stabilised after a slump sparked by the Federal Reserve lowering its interest-rate outlook for this year.

Globally, gold fell 0.40 per cent to USD 1,250.99 an ounce in Singapore today.

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