Gold futures plunge by Rs. 405 per 10 gm

(Last Updated On: February 27, 2016)

Gold for delivery in April dropped Rs. 405 or 1.37 per cent to Rs. 29,110 per 10 gm in a business turnover of 799 lots at the Multi Commodity Exchange.

In a similar fashion, the metal for delivery in far-month June was trading down Rs. 390 or 1.31 per cent to Rs. 29,390 in 22 lots.

Market analysts said the fall in gold futures is mostly in step with a weak trend overseas as Asian equities resumed their gain and chances of a US rate hike rose after a report on Friday showed a pick-up in inflation.

Meanwhile, gold prices slid 0.3 per cent to $1,223.67 an ounce in Singapore today.

Read full article: The Hindu Business

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