Gold futures eased following losses in overseas markets, and demand in the domestic spot market remained muted as farmers were busy with sowing operations, dealers said.
1. At 3:24 p.m., the most-active gold for August delivery on the Multi Commodity Exchange (MCX) was down 0.16 percent to 22,313 rupees per 10 grams.
2. "Farmers are busy in sowing operations. Demand is negligible from rural India. Wedding season demand has also vanished," said a Mumbai-based dealer with a state-run bank dealing in bullion.
3. International gold slipped on Wednesday as a stronger dollar prompted a flurry of sales, but investor buying sparked by sovereign debt concerns and inflationary pressures.
4. Jewellers across Asia rushed to replenish stocks after a recent drop in gold prices, but main consumer India showed little interest as farmers turned their attention to their crop during the monsoon season, dealers said on Tuesday.
5. The Indian rupee, which has a bearing on the landed cost of dollar-quoted gold, was steady on Wednesday.
1. At 3:24 p.m., the most-active gold for August delivery on the Multi Commodity Exchange (MCX) was down 0.16 percent to 22,313 rupees per 10 grams.
2. "Farmers are busy in sowing operations. Demand is negligible from rural India. Wedding season demand has also vanished," said a Mumbai-based dealer with a state-run bank dealing in bullion.
3. International gold slipped on Wednesday as a stronger dollar prompted a flurry of sales, but investor buying sparked by sovereign debt concerns and inflationary pressures.
4. Jewellers across Asia rushed to replenish stocks after a recent drop in gold prices, but main consumer India showed little interest as farmers turned their attention to their crop during the monsoon season, dealers said on Tuesday.
5. The Indian rupee, which has a bearing on the landed cost of dollar-quoted gold, was steady on Wednesday.
No comments:
Post a Comment