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Yellow Metal Loses Its Glitter by 0.10 Percent

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Yellow Metal Loses Its Glitter by 0.10 Percent

June 23
16:01 2014

gold ne1New Delhi, Monday, June 23 – Current scenario doesn’t seem good for the yellow metal, rates of which lost its grip by 0.10 % to be at the mark of INR 27,641 per ten gm in futures trade on the first working day of the week in the course of a feeble fashion out of the country and profit-booking by investors.

Detailing it further, the precious metal for delivery after a couple of months dipped by INR 27, or 0.10 %, to be at INR 27,641 per ten grams in a business turnover of 287 lots at the MCX. In the same way, the gold for delivery in first month of the final quarter lost its shine by INR 24, or 0.09 %, to arrive at INR 27,725 per ten gm in eight lots.

In addition to this,more than a few market analysts stated that stress on the rates of yellow metal was kept by profit-booking by investors at futures trade at this juncture above and beyond a feeble fashion in the foreign markets on indications that a perk up to a 2-month peak diminished physical and investment demand. Internationally, the metal plummeted by 0.40 % to reach $1,310.19 per ounce in Singapore on June 23.

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