Gold futures closed lower in the Domestic Market on Thursday as participants tightened their positions, largely in step with a weak trend overseas.
Analysts said a weak trend in the overseas market, where gold declined on signs that policy makers will seek to minimize the impact on global growth from UK’s decision to leave the European Union, mainly weighed on the precious metal prices at the futures trade.
At the MCX, Gold futures for August 2016 contract closed at Rs 31210, per 10 gram, down by 0.34 per cent after opening at Rs 31,220, against the previous closing price of Rs 31,315. It touched the intra-day low of Rs 31,131.
Analysts said a weak trend in the overseas market, where gold declined on signs that policy makers will seek to minimize the impact on global growth from UK’s decision to leave the European Union, mainly weighed on the precious metal prices at the futures trade.
At the MCX, Gold futures for August 2016 contract closed at Rs 31210, per 10 gram, down by 0.34 per cent after opening at Rs 31,220, against the previous closing price of Rs 31,315. It touched the intra-day low of Rs 31,131.
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