Gold futures down on profit-booking amidst a weak trend in global markets

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Gold futures down on profit-booking amidst a weak trend in global markets

Gold futures prices on MCX were trading lower on Tuesday amidst a weak trend in global markets. Speculators cut their positions and indulged in booking profits at prevailing levels.

Gold futures declined by Rs 52, or 0.19%, to trade at Rs 26,945 per 10 grams for delivery in June on the Multi Commodity Exchange. Prices hit an Intraday high of Rs 26,980 and an Intraday low of Rs 26918. So far 940 futures contracts for June have been traded in MCX.

Snapping its 4-day rising streak, gold prices fell in Delhi, gold of 99.9 and 99.5 per cent purity declined by Rs 20 each at Rs 27,230 and Rs 27,080 per 10 grams, respectively.

The dollar pushed higher against the euro and the yen on Tuesday, having recovered almost all the ground lost in the wake of unexpectedly weak US jobs report on Friday.

At the global level Gold prices retreated 7-week high, as traders continued to monitor the direction of the dollar for measuring the appeal of the precious metal.

On the Comex, gold futures for delivery in June yield $ 4.80, or 0.39%, to trade at $ 1213.80 a troy ounce. Prices stayed in a narrow range between $ 1211.10 and $ 1215.90 an ounce.

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MCX Gold futures rise by 1.1% on global cues

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MCX Gold futures rise by 1.1% on global cues

MCX Gold prices were trading in futures trade as market players created fresh positions, taking positive cues from the weak global market.

At the Multi Commodity Exchange, gold for delivery in June was trading Rs 305, or 1.15% higher, at Rs 26,902 per 10 grams. Prices touched a session high of Rs 27,049 and low of Rs 26,645. So far 6,582 futures contracts have been traded in MCX.

The metal for delivery in four-month August was trading at Rs 27,103 up Rs 358, or 1.34 percent. Prices touched an Intraday high of Rs 27208 and an Intraday low of Rs 27033.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity climbed by Rs 240 each to Rs 27,250 and Rs 27,100 per 10 grams, respectively, a level last seen on March 2.

Besides, increased buying by jewellers and retailers to meet rising demand supported the uptrend at the bullion market today.

On the Comex New York, gold futures for June delivery soared to $ 1235.50 a troy ounce, its highest Intraday level since Feb. 17.

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MCX Gold June futures contract trades higher on global cues

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MCX Gold June futures contract trades higher on global cues

Gold prices, trade higher in futures trade today as speculators created fresh positions, tracking a firm global trend.

After the release of soft, non-farm payroll figures, gold futures soared on Wednesday.

At the Multi Commodity Exchange, gold for delivery in June was trading at Rs 26,379 up Rs 110, or 0.42 percent. Gold touched an Intraday session high of Rs 26412 and an Intraday session low of Rs 26350. So far as MCX commodity exchange 829 gold futures contracts have been traded.

In the national capital Delhi at the bullion market on emergence of buying by jewellers and retailers at existing lower levels, gold of 99.9 and 99.5 per cent purity rose by Rs 200 each to Rs 26,775 and Rs 26,625 per 10 grams respectively.

On the Comex New York Mercantile Exchange, gold futures delivery in June rallied $24.30 or 2.05% to $1,207.50 a troy ounce. Meanwhile, gold rose 0.5% to USD 1,189.15 an ounce in Singapore.

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