Gold futures slip 0.17 percent

According to the latest Business updates, it states that accompanied by the absence of cues from the international markets and a steady rupee, gold prices slipped by 0.17 percent to reach the mark of Rs 28,062 per 10 grams in futures trade today.

As per the result issued at the Multi Commodity exchange, gold for delivery in the month of April this year eased Rs 47, or 0.17 percent, to Rs 28,062 per 10 grams, with a business turnover of 19 lots.

In the same way, the metal for delivery in the second month of this year lost Rs 43, or 0.15 percent, to Rs 27,753 per 10 grams, with a trade volume of 363 lots.

In Asian trade market, gold slightly changed and moved at $1,604.07 an ounce in Singapore in early trade today.

Talking to media, experts said that, “Absence of any direction from global markets, which are closed today for local holiday, mainly put some pressure on the gold futures prices here.”

They said, “A firm rupee against the dollar, which trimmed the landed cost of imported gold appreciated against the dollar also weighed on the prices.”

In the meantime, rupee strengthened by 10 paise to 52.86 against the US currency in early trade today.

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