MCX Gold June contract slips down Rs 225 to Rs 26,825

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MCX Gold June contract slips down Rs 225 to Rs 26,825

Gold futures prices were trading lower on Friday at MCX, as speculators locked-in gains amid weak trends overseas.

Ms. Yellen did not reveal any indication of whether she will discuss the long-term prospects for the Fed to tighten in his speech at the Federal Reserve Bank of San Francisco conference on Friday afternoon.

At the Multi Commodity Exchange, the June contracts of gold quoted at Rs 26,825 down Rs 225, or 0.83 percent. Prices touched an Intraday high of Rs 26,962 and an Intraday low of Rs 26,781. So far 1364 contracts have been traded in MCX

While, April contracts were trading at Rs 26,607 down Rs 194, or 0.72 percent. Rates touched an Intraday high of Rs 26758 and an Intraday low of Rs 26559. So far 6619 futures contracts have been traded.

On Friday at the domestic bullion market, gold of 99.9 per cent purity advanced by Rs 150 to trade over three-week high at Rs 27,100 per 10 grams, a level last seen on March 4.

Similarly, gold of 99.5 per cent purity gained Rs 100 to Rs 26,900 per 10 grams on a firming global trend and sustained buying by jewellers to meet seasonal demand.

KheloMCX Analysts attributed the fall in gold futures on Friday afternoon amid a shaky dollar, as traders awaited the comments of the Federal Reserve President Janet Yellen later in the session.

On the Comex New York Mercantile Exchange, gold futures delivery in April fell 5.80% or 0.48% to $1,199 a troy ounce. Meanwhile, gold futures prices fell by 0.4% to $1,200.10 an ounce in Singapore.

To contact the KheloMCX Advisory Or Free trial Advisory Visit KheloMCX.com.

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