Thursday, January 28, 2010

Gold prices hit near 3-month low on strong dollar

India gold futures edged lower on Thursday morning to hit a near three-month low, weighed by a stronger dollar overseas, dimming the metal's appeal as an alternative investment, analysts said.

The most-traded gold February contract on the Multi Commodity Exchange (MCX) was trading 0.31 percent lower at Rs 16,390 per 10 grams at 10:44 a.m., after hitting a low of Rs 16,341, a level last seen on Nov. 3.

Source & Full article EconomicTimes

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