Gold prices declined 0.17% to Rs 31736 per 10 gram in Friday’s futures trading since as participants reduced their positions amid a weak global cues.
At the MCX, gold prices for delivery in Feb-2019 were trading down by Rs 53, or 0.17%, to Rs 31736 per 10 gram in a business turn-over of 14109 lots. Further, Gold for delivery in April fell by Rs 87 or 0.27% to Rs 31,793 per 10 gram in 3795 lots.
Gold is very much sensitive over rising interest rates in U.S, which lift the opportunity cost of holding non-yielding bullion.
US gold futures were up nearly 0.4% at USD 1,299.50 per ounce. Spot gold was up 0.2% at USD 1,296.35 per ounce. The precious metal has risen more than 1% thus far this week.