By
Reuters
Published
Mar 24, 2010
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India gold futures weak on international cues

By
Reuters
Published
Mar 24, 2010

MUMBAI (Reuters) - India gold futures were trading lower on Wednesday (24 March) afternoon tracking a weak international market, analysts said.



International gold eased below $1,100 an ounce in Europe on Wednesday 24 March as the dollar rose nearly 1 percent versus the euro, with persistent worries over the fiscal health of debt-laden Greece weighing on the single currency.

Indian gold prices mirror international trends.

"Investors are looking for direction as gold is taking support of $1,100... MCX gold could trade in the range of 16,310 - 16,550 rupees (per 10 grams)," said Kapil Gandhi, an analyst with New Futures Advisors.

The most-active April gold contract on MCX was at 16,387 rupees per 10 grams, down 0.35 percent at 4:55 p.m.

(Reporting by Sourav Mishra; Editing by Prem Udayabhanu)

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