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Gold Futures Fall On Low Demand

Gold contracts for the August delivery traded lower by Rs 167, or 0.34 per cent, to Rs 48,827 per 10 gram in a business turnover of 11,798 lots.

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Gold prices fell by Rs 167 to Rs 48,827 per 10 gram in the futures trade on Monday as speculators reduced their positions amid low demand.

On the Multi Commodity Exchange, gold contracts for the August delivery traded lower by Rs 167, or 0.34 per cent, to Rs 48,827 per 10 gram in a business turnover of 11,798 lots.

Analysts attributed the fall in gold prices to trimming of positions by participants.

Globally, however, gold traded 0.30 per cent lower at USD 1,886.30 an ounce in New York.

(PTI)


Tags assigned to this article:
gold prices gold demand Covid 19 multi commodity exchange