BT:Gold price slips below Rs 26,000 in futures trade
Gold price slipped below Rs 26,000 in futures trade on Monday, as speculators trimmed their positions, taking negative cues from overseas markets.
Market analysts attributed the fall to a weak global trend as better-than-expected US jobs data lifted the dollar to the highest level since July 2010 and increased speculation that the US Federal Reserve will scale back stimulus.
At the Multi Commodity Exchange, gold for delivery in August declined by Rs 104, or 0.40 per cent to Rs 25,930 per 10 grams in business turnover of 4,732 lots.
Likewise, the yellow metal for October contract traded lower by Rs 92, or 0.35 per cent to Rs 26,041 per ten grams in 139 lots.
Meanwhile, gold price fell by 0.6 per cent to $1,215.89 an ounce in Singapore.
