Gold futures likely to remain rangebound
Gold futures may trade within a range with a tendency to drop as investors’ book profit.
MCX gold August contract will trade between Rs.30,100 and Rs.30,350 per 10 gram. It had closed at Rs.30,290 on Wednesday.
Mumbai spot gold opened lower by Rs.18 a gram at Rs.2,926. US spot gold was down by $10 at $1,600 a troy ounce at 9 am.
Most Asian markets advanced on Thursday as Fed reduced the forecast of US GDP numbers and raised a concern over rising unemployment.