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19-Aug2016

Gold futures trade lower on MCX

Gold futures traded lower on MCX as the dollar rebounded and a Federal Reserve policy maker said the US economy is strong enough to warrant an increase in interest rates soon, warning that waiting too long risks high inflation or asset bubbles mainly influenced gold prices at futures trade.

The contract for October delivery was trading at Rs 31438.00, down by 0.13% or Rs 40.00 from its previous closing of Rs 31478.00.The open interest of the contract stood at 11088.00 lots.

The contract for December delivery was trading at Rs 31747.00, down by 0.11% or Rs 34.00 from its previous closing of Rs 31781.00. The open interest of the contract stood at 2639.00 lots on MCX.


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