Gold futures down on earnings-reserving

by Micheal Quinn

Analysts attributed the autumn in gold prices to trimming of positions via members to ebook earnings.

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Gold expenses fell by using Rs 17 to Rs 32,783 in keeping with 10 gram in futures trade on June 7 amid profit-reserving through speculators, in tandem with weakening charges foreign places.

On the Multi Commodity Exchange, gold contracts for August delivery traded lower using Rs 17, or 0.05 per cent, at Rs 32,783 in step with 10 gram in a commercial enterprise turnover of 16,529 masses.

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Similarly, the metal for transport in October become down by using Re 1 to Rs 32,936 in keeping with 10 gram in 1,726 plenty.

Analysts attributed the fall in gold fees to trimming of positions by participants to book profits.

Globally, gold traded 0.36 per cent decrease at USD 1,337.80 an ounce in New York.

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