Commodity Market Updates for August 25, 2016
Gold futures were trading little changed during the morning trade in the domestic market on Thursday as investors and speculators cut down their positions in the precious metal amid a weakening global trend ahead of US Fed Chair Yellen’s speech later this week.
Further, the fall in prices for gold was in-line with a weak trend overseas as investors hope for clarity this week on the near-term path for interest rates, hurting demand for the precious metal as a safe-haven investment.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,034 per 10 grams, down by 0.04 per cent, after opening at Rs 31,029, against a previous close of Rs 31,046. It touched the intra-day low of Rs 31,014.