India, March 12 -- Gold futures on Thursday slipped Rs 38 to Rs 1.61 lakh per 10 grams, as rising crude oil prices and a firm US dollar weighed on investor sentiment.
On the Multi Commodity Exchange of India (MCX), gold contracts for April delivery declined by Rs 38, or 0.02 per cent, to Rs 1,61,751 per 10 grams, with a business turnover of 1,067 lots.
Market analysts said higher crude oil prices have raised concerns about inflation, which could reduce the chances of interest rate cuts by the Federal Reserve, thereby putting pressure on gold prices.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....