Yellow Metal Loses Sheen On Global Cues

Gold futures were trading lower during afternoon trade in the domestic market on Friday as investors and speculators exited their positions in the precious metal amid caution ahead of the verdict of the UK national election, with early results suggesting no clear winner which could plunge the country into a new bout of political turmoil before Brexit talks.

Besides, former FBI director James Comey's Congressional testimony was seen as containing no major surprises, too influenced precious metal prices.

At the MCX, gold futures for August 2017 contract is trading at Rs 29021 per 10 grams, down by 0.38 per cent, after opening at Rs 29101, against a previous close of Rs 29131. It touched the intra-day low of Rs 29006.

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Suhani Verma

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