Gold price falls

Gold prices fell further by 0.27 per cent to Rs 30,650 per 10 grams in futures market on Wednesday as speculators trimmed positions in line with weak trend overseas.

Gold in Singapore dropped 0.23 per cent to $1,367.90 an ounce.

Market analysts said the fall in gold futures was mostly attributed to a two-way movements in the global market before the US Federal Reserve releases minutes from its last meeting, which may provide clues on whether the pace of stimulus will be slowed amid signs of increasing bullion demand.

At the Multi Commodity Exchange, gold for delivery in December fell by Rs 82, or 0.27 per cent, to Rs 30,650 per ten grams in business turnover of 207 lots.

Similarly, the yellow metal for delivery in October traded Rs 72, or 0.23 per cent lower at Rs 30,740 per ten grams in 3,389 lots.


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