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Gold futures decline on weak global trend

Gold futures decline on weak global trend
PTI
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First Published: Mon, Dec 01 2008. 01 22 PM IST
Updated: Mon, Dec 01 2008. 01 22 PM IST
New Delhi: Gold prices declined in futures trading on 1 December, on fresh selling in view of a weakening trend in global markets.
The precious metal for December contract fell 0.69% to Rs13,075 per ten gram on the Multi Commodity Exchange in a trading volume of 745 lots.
Gold for delivery in April fell 0.55% to Rs13,100 per 10 gram in trading of 35 lots, while February gold dropped 0.46% at Rs 13,070 in trading volume of 1,892 lots.
Marketmen said trading sentiment turned weak as the gold declined for the first time in three days in Asia as crude oil fell and equities dropped after US retailers made lowest purchases in three years on the ‘Black Friday’ holiday.
The gold in Hong Kong opened lower today at $811 an ounce, down from Friday’s close of $813, as falling crude oil prices reduced concerns of inflation.
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First Published: Mon, Dec 01 2008. 01 22 PM IST
More Topics: Futures | Gold | MCX | Bullion | Crude Oil |