India’s forex reserves contract by $3.7 billion from all-time record high: RBI
India’s forex reserves contracted by USD 3.7 billion to USD 701.18 billion as of October 4, data shared by the Reserve Bank of India said on Friday.
Gold prices fell by Rs 93 to Rs 31,252 per 10 gram in futures trade Friday as speculators went for profit-booking at prevailing levels even as the metal strengthened overseas.
On the Multi Commodity Exchange, gold to be delivered in June contracts fell by Rs 93, or 0.3 per cent, to trade at Rs 31,252 per 10 gram in a business turnover of 12,205 lots.
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The yellow metal for delivery in August contracts shed Rs 103, or 0.33 per cent, to trade at Rs 31,399 per 10 gram in a business volume of 4,439 lots.
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Analysts attributed the fall in gold futures to profit-booking by traders in domestic market.
Globally, however, the yellow metal was trading higher by 0.05 per cent to USD 1,270.70 an ounce in Singapore.
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