MCX GOLD FUTURES TUMBLES BY NEARLY 2% ON WEAK GLOBAL.

MCX GOLD FUTURES TUMBLES BY NEARLY 2% ON WEAK GLOBAL.

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MCX Gold futures tumbles by nearly 2% on weak global
MCX Gold prices slipped nearly 2% on Monday as speculators indulged in trimming positions on weak global.
At the Multi Commodity Exchange futures market, Gold February futures prices was trading at Rs 25,683 down Rs 489, or 1.87 percent. The Gold rate touched an intraday high of Rs 26075 and an intraday low of Rs 25526. So far 2081 contracts have been traded.
Likewise, Gold futures delivery in December contracts was trading at Rs 25355 down Rs 439, or 1.70 percent. Gold rate touched an intraday high of Rs 25500 and an intraday low of Rs 25224. So far 647 contracts have been traded.
KheloMcx Bullion Analysts said a weak tendency in overseas markets after Swiss voters have rejected a plan for the central bank to accumulate bullion and Central Bank of of India on Friday eased import restrictions of precious metal exerted pressure in gold futures prices.
Gold immediate delivery fell as much as 2.1 percent to $1,142.88 an ounce in Singapore. Gold for February delivery settled dropped as much as 2.9 percent to $ 1,141.70 an ounce on the Comex, the lowest for a most-active contract since Nov. 7.
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