MCX GOLD JUNE CONTRACT TRADING DOWN AT RS 26,216

MCX GOLD JUNE CONTRACT TRADING DOWN AT RS 26,216

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MCX Gold June contract trading down at Rs 26,216
Gold prices slipped from a three-day rally on Monday in the future trade market, amid a weak dollar and caution from the Federal Reserve on the timing of a possible hike in US interest rates.
At the Multi Commodity Exchange, Gold June futures contract quoted up at Rs 26,216 down Rs 49, or 0.19 percent. Prices hit an Intraday high of Rs 26238 and an Intraday low of Rs 26187. So far on MCX 57 contracts have been traded.
The gold April contract was trading at Rs 26,117 down Rs 65, or 0.25 percent. So far 704 contracts have been traded in MCX.
In the national capital Delhi, gold of 99.9 and 99.5 per cent purity declined by Rs 50 each to Rs 26,450 and Rs 26,300 per 10 GM, respectively.
Globally, gold futures contract traded lower at $1,182.30 an ounce and silver fell by 0.21 per cent to $16.69 an ounce in Singapore.
Traders said there the next key support level for gold is $ 1,200 higher. Gold was down to a minimum of four months before the Fed met last week referred mounted higher interest rates in the United States, which could dent demand for non-interest bearing bullion. But it has since recovered.
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