India gold futures remain lower

March 16, 2009

Commodity Online
NEW DELHI : India’s gold futures traded lower in afternoon session on Monday mainly on weak global trends.

Gold futures on the Multi Commodity Exchange (MCX) were lower by 0.23 percent or by Rs 69 at Rs15,246 per 10 grams at 3.37 p.m, after recording a high of Rs 15,350.

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Dealers said gold demand remained weak despite the fall as prices stayed within sight of a record high of 16,040 rupees struck on Feb. 20 .

However, a weaker rupee likely to support the dollar-quoted yellow metal. The rupee remained weaker in afternoon session as dollar demand from importers weighed on sentiment.

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