Mostly Cloudy
9°CThu :Mostly Sunny. High: 14 Low: 2

Gold prices hit seven-month low of Rs 29,263 per 10 gm

Gold prices hit seven-month low of Rs 29,263 per 10 gm

New Delhi: Gold prices tumbled by 1.06 percent to Rs 29,263 per 10 grams in futures trade on Thursday amid heavy selling by speculators, driven by a steep fall in prices in global markets.

The most active gold contract for April delivery on the Multi Commodity Exchange (MCX) fell Rs 316, or 1.06 percent, to Rs 29,263 per 10 grams, with a business turnover of 12,794 lots.

Similarly, the metal for delivery in June dropped Rs 315, or 1.04 percent, to Rs 29,801 per 10 grams, with a business turnover of 920 lots.

Marketmen said gold prices dropped in futures trade on frantic selling by speculators as gold in global markets fell for the seventh day, slumping to the lowest level since July.

Gold in Singapore fell 0.60 percent to USD 1,555.55 an ounce, the lowest since July 12.

 

Top Stories

Post retirement, PM to move to bungalow vacated by Sheila Dikshit

Post retirement, PM to move to bungalow vacated by Sheila Dikshit

February-28-2014
New Delhi: A sprawling bungalow on Motilal Nehru Place will be the abode of Prime Minister Manmohan Singh once he retires after
Sukhbir Singh Badal takes jibe at Congress, dubs it as 'politically pauper'

Sukhbir Singh Badal takes jibe at Congress, dubs it as ‘politically pauper’

February-28-2014
Muktsar: Describing Congress as “politically pauper”, Punjab Deputy Chief Minister Sukhbir Singh Badal on Friday alleged that Congress was facing severe political
Train fires: Railways to reply SC on use of sub-standard materials

Train fires: Railways to reply SC on use of sub-standard materials

February-28-2014
New Delhi: The Supreme Court on Friday sought response from the Centre and Railways on the allegation that use of sub-standard materials
Dark matter annihilation may be possible

Dark matter annihilation may be possible

February-28-2014
Washington: Researchers have claimed that gamma-ray photons observed from the center of the Milky Way Galaxy are consistent with the intriguing possibility
INS Sindhuratna fire: Police register accidental death case

INS Sindhuratna fire: Police register accidental death case

February-28-2014
Mumbai: On Thursday, police registered a case of accidental death over the fire incident on board the submarine INS Sindhuratna, in which
Electric bus service debuts in Bangalore

Electric bus service debuts in Bangalore

February-28-2014
Bangalore: State-run Bangalore Metropolitan Transport Corporation (BMTC) Friday began operating an electrically-charged bus service to provide eco-friendly public transport to commuters. Initially,