Breaking News

You are here » Indian-Commodity  :  Commodities  :  Gold Extends Losing Streak Despite Wilt In US Dollar

05-May2011

Gold Extends Losing Streak Despite Wilt In US Dollar

Gold prices extended their losing streak for yet another session on Wednesday, as investors continued to trim down their positions from the commodity as weakness in crude oil prices prompted selling pressure. The yellow metal investors shruged off volatile American greenback which hit a two and half year low level and reports of an official $116 billion bailout for Portugal.

Gold futures for June delivery plummeted by $26.40 to settle at $1,514.10 an ounce on the Comex division of the New York Mercantile Exchange, whereas the spot gold prices eased by $23.30 to $1,514.25 an ounce.

Related News

View all news

BT Cotton Seeds Businesses Targeting Earnings Of Rs 700 Crore This Season

BT Cotton seeds organizations are targeting earnings of Rs 700 cr this season as a result of a rise ......

Gold Challenges To Maintain Earlier Increases As The Problems In Europe Prolongs

Gold prices surrounded reduce on Monday because the euro solved their deficits in opposition to the ......

Copper Seems To Lengthen Uptrend As Dollar Recoils

Copper rates were able to lengthen the uptrend for 3rd instantly period on Monday, as traders proved......

Top News

View all news

Shriram City Union Finance planning to raise up to Rs 500 crore

Shriram City Union Finance is planning to raise funds up to Rs 500 crore. The company intends to issue and allot on private placement basis 5,000 number of secured non-convertible redeemable debentures......

TCS features as star performer in Digital Workplace Services by Everest Group

Tata Consultancy Services (TCS) has been recognized as a leader and Star Performer for the second year in a row in the Everest Group PEAK Matrix for Worldwide Digital Workplace Services. In an assessment......

Tribhovandas Bhimji Zaveri opening 38th store in Uttar Pradesh

Tribhovandas Bhimji Zaveri is opening its 38th store at G-31 & G-32 consisting of Basement Ground Floor & First Floor Noida, in state of Uttar Pradesh on August 18, 2018.Earlier, the company......