Gold futures slide 0.27%; US interest rate hike into focus

New Delhi:  Gold futures prices on Friday fell 0.27% 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
gold futures slide 0.27 us interest rate hike...
PTI August 14, 2015 14:52 IST

New Delhi:  Gold futures prices on Friday fell 0.27% 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 %, 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%, 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.

Meanwhile, gold traded 0.1% lower at US $1,113.02 an ounce in Singapore on Friday.

 
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