Gold prices continued to slide for the seventh day on Thursday at the domestic markets fell as the euro weakened due to the worries over the euro zone debt crisis, as Greece faced its biggest anti-austerity strike for months and Spain’s central bank suggested the country’s recession was deepening.
Gold futures for October 2012 contract, at MCX, were trading at Rs. 31,236 per 10 grams, down by 0.24 per cent after opening at Rs. 31,276 against the previous closing price of Rs. 31,310. It touched the intra-day low of Rs. 31,218 till the trading.
Sentiment weakened further as the Indian rupee appreciated against the US dollar as a result of selling of the American currency by exporters and banks as well as a higher opening in the domestic equity market.
The appreciation of the rupee puts downward pressure on the prices of the yellow metal. At the Commodity Exchange (COMEX), gold future for December 2012 delivery traded at US$1,760.3 per ounce, up by 0.38 per cent as dollar weakened against other currencies.
It opened at US$1,756.3 against the previous closing price of US$1,753.6. It touched the intra-day high of US$1,760.5. (At 11.28 am IST).Via
Gold futures for October 2012 contract, at MCX, were trading at Rs. 31,236 per 10 grams, down by 0.24 per cent after opening at Rs. 31,276 against the previous closing price of Rs. 31,310. It touched the intra-day low of Rs. 31,218 till the trading.
Sentiment weakened further as the Indian rupee appreciated against the US dollar as a result of selling of the American currency by exporters and banks as well as a higher opening in the domestic equity market.
The appreciation of the rupee puts downward pressure on the prices of the yellow metal. At the Commodity Exchange (COMEX), gold future for December 2012 delivery traded at US$1,760.3 per ounce, up by 0.38 per cent as dollar weakened against other currencies.
It opened at US$1,756.3 against the previous closing price of US$1,753.6. It touched the intra-day high of US$1,760.5. (At 11.28 am IST).Via
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