The Mcx market gained support from India's decision to keep
import duty on gold unchanged at a record 10 percent in the fiscal budget on
Thursday, against expectations for a reduction. The move drove India's
most-traded August gold contract up as much as 3 percent.
Gold prices eased in Asia on Friday, retracing overnight gains made on concerns about southern European banks. Gold futures for August delivery traded at $1,337.40 a troy ounce, down 0.13%, after hitting an overnight session low of $1,325.40 and off a high of $1,346.10. Gold rose on safe-haven demand while, weak euro zone factory data further bolstered the precious metal's appeal.
Gold prices eased in Asia on Friday, retracing overnight gains made on concerns about southern European banks. Gold futures for August delivery traded at $1,337.40 a troy ounce, down 0.13%, after hitting an overnight session low of $1,325.40 and off a high of $1,346.10. Gold rose on safe-haven demand while, weak euro zone factory data further bolstered the precious metal's appeal.
Natural gas futures fell to six-month lows on Thursday after official
data revealed U.S. stockpiles rose more than expected last week. Natural gas
futures for delivery in August traded at $4.118 per million British thermal
units during U.S. trading, down 1.26%. The commodity hit a session high of
$4.189 and a low of $4.117.
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