Yellow Metal Loses Footing on Pathetic Worldwide Indications

February 19 02:16 2014

gold 2New Delhi, Wednesday, February 19 – As soon as contributors sold fractional stances on feeble indications from the worldwide market, rates of yellow metal tumbled down by 0.41 % to INR 29,650 per ten grams in futures deal on Wednesday.

The yellow metal for delivery in the final month of second quarter skidded by INR 122, or 0.41 %, to INR 29,650 per ten grams in a business turnover of 15 lots at the Multi Commodity Exchange. In the same way, the gold for delivery during the first month of the coming quarter dropped INR 112, or 0.37 %, to INR 30,109 per ten gms in 366 lots.

In addition to this, a lot of market researchers mentioned that a fragile fashion in the abroad markets in the midst of hopes that the US Federal Reserve minutes will give an idea about policy makers supporting additional stimulus cuts, for the most part weighed on gold futures. Internationally, the yellow metal plunged by 0.40 % to $1,316.91 per ounce in Singapore on February 19.