GOLD
Gold futures slumped in the domestic market on Wednesday 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 slumped a six-year low, signaling weak demand for the bullion as an alternative asset. Holdings in the SPDR Gold Trust slid to the lowest level since September 2008 to 738.8 metric tons on Tuesday. Gold futures for December 2014 contract, at MCX, is trading at Rs. 25,625 per 10 grams, down by 1.30 per cent, after opening at Rs. 25,850, against the previous closing price of Rs 25,963. It touched an intra-day low of Rs 25,564.
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