MUMBAI: Commodity futures declined as sluggish trend in economic data compelled investors to liquidate positions.
Crude oil for August delivery edged lower by 25 cents to $76.37 per barrel after sliding more than 0.5% on Thursday.
Gold slipped below $1,200 an ounce as investors looked for catalysts to break out of the recent narrow range. Weekend selling pressure also affected the price. Spot gold was last offered at $1,195.07 per ounce compared to the late New York level of $1,207.75. At the current level, gold is set for a weekly fall of nearly 1%.
Domestic commodity counters traded mixed largely in line with the global commodity markets. MCX crude oil July contract was last traded 0.7% higher at Rs 3,583 per barrel.
MCX gold for August settlement was last quoted at Rs 18,298 per 10 gram. MCX silver September contract was traded 0.8% lower at Rs 28,940 per kg.
