Gold prices fall by 0.3% in futures trade

Gold prices today fell Rs 76 to Rs 26,777 per 10 gram in futures trade amid a weak global trend.

At Multi Commodity Exchange, gold delivery in far-month February next year fell Rs 76, or 0.28%, to Rs 26,777 per 10 gram, in a business turnover of four lots.

On similar lines, the metal for delivery in December was also trading at Rs 68, or 0.26% down, at Rs 26,553 per ten gram, in business volume of 600 lots.

Analysts attributed the fall in gold futures to a weak global trend where it held at three-week lows as investors assessed the strength of the US economy, with bets rising that the Federal Reserve will start to increase interest rates from December.

In the international market, gold fell 0.88%, to $1,145.50 an ounce in New York yesterday.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel