Gold futures slide as US rate hike comes into focus

August 14, 2015 12:08

Gold futures prices today fell 0.27 per cent to Rs 25,825 per 10 grams as speculators reduced their bets amid a weak global trend.
In futures trading at Multi Commodity Exchange, gold prices for delivery in October fell Rs 70, or 0.27 per cent, to Rs 25,825 per 10 grams in a business turnover of 289 lots.
Similarly, metal prices for delivery in far-month December declined Rs 59, or 0.23 per cent, to Rs 26,036 per 10 grams in five lots.
Market analysts said the fall in gold futures is mostly attributed to trimming of positions by speculators, tracking a weak trend overseas as investors turned their attention back to the timing of US interest rate hike after China signalled support for its currency.

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