Gold Futures Fell in the Domestic Market on Tuesday

GOLD

Gold futures fell in the domestic market on Tuesday as investors and speculators exited positions in the precious metal tracking a weak trend in the overseas market as holdings in bullion-backed exchange traded products (ETP) shrank to the lowest level since September 2008, signaling weakening investment demand for the precious metal. Holdings in the SPDR Gold Trust, the biggest exchange-traded product backed by the metal, fell to the least since September 2008 on Monday, shrinking for a fifth straight day, the longest slump in 2014. Gold futures for December 2014 contract, at MCX, is trading at Rs. 25,535 per 10 grams, down by 0.77 per cent, after opening at Rs. 25,653, against the previous closing price of Rs 25,733. It touched an intra-day low of Rs 25,433. (At 11:29 AM).