Breaking News

You are here » Indian-Commodity  :  Commodities  :  Gold Takes A Nasty Blow, Settles Below $1,500 An Ounce Level


Gold Takes A Nasty Blow, Settles Below $1,500 An Ounce Level

Gold prices took a nasty laceration on Thursday as they got pulverized by over two percent, slipping below the $1,500 per ounce level, a broad based sell-off in commodities weighed down sentiments. Profit booking in yellow metal amplified as the American greenback rallied strongly from its two and half year low levels, eroding the appeal of precious metal as alternative assets.

Gold futures for June delivery nosedived by $33.90 to settle at $1,481.40 an ounce after trading in the range of $1,522.10 to $1,471.80 on the Comex division of the New York Mercantile Exchange, whereas the spot gold prices got pounded by almost $50 to $1,464.25 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

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......