NEW DELHI:
Gold prices declined in futures trade on Thursday as a rally in equities eroded the appeal of gold as a safe-haven metal.
Weak global sentiment and a fall in demand by jewellers at the spot market also took the shine off the yellow metal.
Gold prices inched down in international markets as bonds rallied and the dollar hovered near a two-year high, negating the support from an increasingly bitter Sino-US trade dispute that rekindled doubts about global economic growth, Reuters reported.
On the other hand, oilNSE 0.25 % prices climbed as the commodity prices rose in global markets after an industry report showed a decline in the US crude inventories.
The MCX Gold was trading at Rs 31,576 per 10 grams, down by Rs 157 around 11:20 am. The MCX Crude oil was trading at Rs 4,139 per barrel, up by Rs 23 at that time.
Gold prices declined in futures trade on Thursday as a rally in equities eroded the appeal of gold as a safe-haven metal.
Weak global sentiment and a fall in demand by jewellers at the spot market also took the shine off the yellow metal.
Gold prices inched down in international markets as bonds rallied and the dollar hovered near a two-year high, negating the support from an increasingly bitter Sino-US trade dispute that rekindled doubts about global economic growth, Reuters reported.
On the other hand, oilNSE 0.25 % prices climbed as the commodity prices rose in global markets after an industry report showed a decline in the US crude inventories.
The MCX Gold was trading at Rs 31,576 per 10 grams, down by Rs 157 around 11:20 am. The MCX Crude oil was trading at Rs 4,139 per barrel, up by Rs 23 at that time.
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