Gold futures fall to Rs. 26,972 per 10 gm

New Delhi-India (Oct 19)  Gold prices today eased below the Rs. 27,000-mark by falling Rs. 178 to Rs. 26,972 per 10 grams at the futures trade amid a weak global trend.

On the Multi Commodity Exchange, gold for delivery in December was trading lower by Rs. 178 or 0.66 per cent at Rs. 26,972 per 10 grams in a business turnover of 377 lots.

Also, the precious metal for delivery in far month February next year shed Rs. 173 or 0.63 per cent to Rs. 27,185 per ten grams in 7 lots.

Analysts attributed the fall in gold futures to a weak global trend, where it retreated from three-month high, as signs of a buoyant US economy revived expectations that the Federal Reserve may raise interest rates and data showed that China expanded quicker than economists forecast in the third quarter.

Globally, gold fell 0.5 per cent to $1,171.38 an ounce in Singapore as the Federal Reserve moved closer to boosting US interest rates for the first time since 2006.

Source: TheHindu