Gold trades flat on US economic reports


Gold futures closed flat in the domestic market amid geopolitical worries a day after prices dropped to their lowest level in a week.

Gold’s latest price moves come on the heels of a pair of U.S. economic reports. One showed a reduction in a still-high reading on Philadelphia-area manufacturing. The other revealed continued shrinking for the number of people collecting unemployment benefits.

At the MCX, gold futures for June 2017 contract ended at Rs 29290 per 10 grams, down by 0.05 per cent, after opening at Rs 29,254 against a previous close of Rs 29,305. It touched the intra-day low of Rs 29,203.

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Suhani Verma

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