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Gold dips in futures trade on weak Asian trend

Gold dips in futures trade on weak Asian trend
PTI
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First Published: Mon, Feb 02 2009. 02 38 PM IST
Updated: Mon, Feb 02 2009. 02 38 PM IST
New Delhi: Gold prices fell in futures trading on Monday by 1.57% as traders released part of their holdings on weakening overseas trend.
The precious metal for April-month contract lost 1.57% to Rs14,177 per 10 gram on the Multi Commodity Exchange (MCX) in a trading volume of 11,170 lots and February month by 1.51% to Rs14,234 per ten gram in 1,758 lots.
Gold for July month contract lost 1.49% to Rs14,179 per 10 gram in a trading volume of 326 lots.
The trading activity turned bearish, as the yellow metal dropped in Asia on speculation that its rally to a three-month high prompted by investors who sought an alternative investment amid the global recession was overdone.
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First Published: Mon, Feb 02 2009. 02 38 PM IST
More Topics: Gold | Bullion | Futures Trading | MCX | Asia |