Home Alternative Investments Gold futures drop £2.38 amid weak global cues

Gold futures drop £2.38 amid weak global cues

by Jonathan Adams

Gold futures traded lower by £2.38 at £300.72 per 10 grams in the wake of a weakening global trend as speculators cut down their bets.

Besides, profit-booking by speculators at existing levels weighed on the precious metal prices.

Gold for delivery in April dropped £2.38, or 0.79 per cent, to £300.72 per 10 grams, in a business turnover of 363 lots at the Multi Commodity Exchange.

Similarly, the metal for delivery in far-month June was trading down £2.36, or 0.77 per cent, to £303.54 per 10 grams in 78 lots.

According to market analysts, the fall in gold futures reflected a weak trend overseas where it sank to one month lows as the dollar’s rally hurts the allure of the metal that has been the best-performing commodity of 2016.

This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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