Yellow Metal Down on weak Global Cues in the Domestic Market

Gold futures were trading lower during the afternoon trade in the domestic market on Wednesday as participants cut their bets amid a weak global trend. Besides, profit-booking by speculators weighed on gold prices.

Market analysts attributed the fall in prices to weak trend overseas and profit-booking by speculators at existing higher levels.

At the MCX, Gold futures for August 2016 contract is trading at Rs 30,499 per kg, down by 0.19 per cent, after opening at Rs 30,450, against a previous close of Rs 30,558. It touched the intra-day low of Rs 30,440


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