Commodities
Gold Futures Trade Flat Amid Weak Spot Demand
Gold futures in India remained flat at Rs 1,59,650 per 10 grams on August 28 due to muted spot demand. The October delivery contract traded down by Rs 13 or 0.01 per cent in a business turnover of 9,291 lots.
This decline comes after the price had dropped as much as Rs 2,971 to a low of Rs 1,56,692 per 10 grams from the previous close of Rs 1,59,663. Analysts attributed this fall to weaker spot demand for gold in India.
On the global front, gold futures edged up by 0.23 per cent to $4,601.64 per ounce in New York. Meanwhile, silver prices were nearly flat at Rs 2,39,607 per kilogram in futures trade on Thursday as participants reduced their bets.