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14/06/2011 00:00 AST
Gold futures fell for a second straight day on Tuesday on a strong rupee, but the fall wasn't enough to boost demand in the lean season, dealers said.
At 5:28 pm, the most-active gold for August delivery on the Multi Commodity Exchange ( MCX )) was down 0.25 percent to 22,302 rupees per 10 grams.
* "No, there wasn't any improvement in demand despite the correction. No one is in hurry to buy," said a Mumbai-based dealer with a state-run bank dealing in bullion.
* International gold rallied on Tuesday as the jewellery sector came looking for bargains, the dollar slipped and investors fretted about the Greek debt crisis.
* Jewellers across Asia rushed to replenish stocks after a recent drop in gold prices, but main consumer India showed little interest as farmers turned their attention to their crop during the monsoon season, dealers said on Tuesday.
* The Indian rupee, which has a bearing on the landed cost of dollar-quoted gold, closed at 44.73/74 per dollar, stronger than 44.86/87 at the previous close, comforted by dollar's weakness overseas, but volatile local shares and oil companies demand for US currency arrested rupee's gains.
Reuters
| Ticker | Price | Volume |
|---|
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Gold | 3,018.2 | -21.8 | -0.72 |
| Silver | 33.29 | -0.5 | -1.48 |
| Platinum | 979.5 | -6.5 | -0.66 |
| Palladium | 962.5 | 6.5 | 0.68 |
27/03/2025
Gold has been on an unstoppable rally in 2025, surging more than 16% since the start of the year and recently breaking past $3,000 per ounce-well ahead of previous forecasts. This milestone has left
Gulfnews
25/03/2025
Gold prices rose on Monday amid concerns about the imminent tariffs that US President Donald Trump plans to impose, in addition to anticipation of interest rate cuts by US Federal Reserve this year.
QNA
24/03/2025
Gold prices slipped at the opening of markets in Dubai on the first trading day of the week due to a stronger US dollar as investors await fresh catalysts.
At 9am UAE time, the 24K variant o
Khaleej Times
22/03/2025
Gold prices fell on Friday, but were poised for a third straight weekly gain, bolstered by safe-haven demand amidst geopolitical and economic uncertainties as well as anticipation of US Federal Reser
Reuters
21/03/2025
Gold touched an all-time high on Thursday as the US Federal Reserve signaled two possible interest rate cuts this year, adding to the bullion's appeal amid ongoing geopolitical and economic tensions.
Asharq Al Awsat
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