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Yellow Metal Plummets to INR 29,535 on World Indications

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Yellow Metal Plummets to INR 29,535 on World Indications

March 24
14:54 2014

gold 2New Delhi, Monday, March 24 – Rates of yellow metal plummeted by 0.70 % to INR 29,535 per ten grams in futures market on Monday for the reason that investors sold their positions, following a feeble worldwide fashion.

Touching the mark of 29,535 each ten grams in a business turnover of 804 lots, the yellow metal for delivery in the coming month skidded by INR 207, or 0.70 %, at the Multi Commodity Exchange. In the same way, gold for delivery in the final month of second quarter shed INR 190, or 0.65 %, to INR 29,107 each ten grams in 70 lots.

More to the point, restraining requirement for the precious metal as a stock up of value, market researchers stated that the plunge in gold futures was by and large as a result of a deteriorating fashion in the world market on assumption that US interest rates will augment in 2015. In the intervening time, the yellow metal in Singapore lost its balance by 0.70 % to $1,325.05 per ounce.

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