Gold futures remained almost flat in the international market on Tuesday, after the last week’s biggest gain in seven weeks.
At 1330 hours GMT, gold in the international market was trading at $1,769.30 an ounce after shedding $2.70 an ounce in its value as compared to its closing value on Monday last.
Resultantly, the price of yellow metal in the country went down and the price of 10 grams yellow metal was recorded at Rs87,100 after shedding Rs100. The price of 10 grams gold was recorded at Rs87,200 on Monday last.
Gold futures on Thursday last scored their biggest daily gain since March, with prices settling at their highest in seven weeks, as benchmark US bond yields pulled back and rising US tensions with China and Russia boosted the metal’s haven appeal.
Gold also moved up after a series of good reports on the health of the US economy, which provided some support for bullion given the threat of inflation.—TLTP