Gold Down Again move in range of 24400-24800 in MCX

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Gold Weak in Future Trade

Gold prices were down by Rs 193 to Rs 24,758 per 10 grams on Friday in futures trade after the precious metal tumbled to over five-year lows in global market.

Globally, gold was trading 1.2 percent lower at USD 1,07.40 an ounce in Singapore on Friday, the lowest since February 11, 2009. MCX Silver December contract trades lower. MCX SILVER September contract was trading at Rs 33769 down Rs 135, or 0.40 percent. The SILVER rate touched an intraday high of Rs 33863 and an intraday low of Rs 33725. So far 1825 contracts have been traded. SILVER prices have moved down Rs 7326

MCX GOLD August contract was trading at Rs 24541 down Rs 193, or 0.78 percent. The GOLD rate touched an intraday high of Rs 24570 and an intraday low of Rs 24530.

Oil prices rose in Asia on Friday following recent losses but analysts said the rebound is unlikely to be sustained because of a global crude glut.

Brent crude for September advanced 17 cents to USD 55.44. Over the week WTI is down more than 4.0 percent and Brent has lost nearly 3.0 percent.

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