Gold futures edge lower on rupee

Gold futures edge lower on rupee

Mumbai: India gold futures edged lower on Friday morning weighed by a firm rupee, which makes the dollar-quoted asset cheaper, with traders awaiting the US GDP data and existing home sales for direction, analysts said.

The most-traded April contract was trading 0.16% lower at Rs16,667 per 10 grams at 10:28am, after hitting a low of Rs16,667.

The Indian rupee was trading up on Friday, tracking local shares and regional peers, but traders were cautious ahead of the national budget that is expected to balance growth and fiscal consolidation.

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