India''s gold futures on Monday extended losses in a row on global leads, but in the local market, buyers awaited further price falls, traders and dealers said.
The February contract on the Multi Commodity Exchange of India closed at Rs 13,265, down Rs 63 rupees from the previous close.
“Gold demand is very low as prices rose recently,” said Sanjeev Garg, director with Delhi-based LMJ International, a bullion trader.
The foreign gold that guides the local market, edged slightly lower on Monday as concerns over physical demand weighed, while U.S. crude oil slipped to under $40 a barrel in a thin market.
The February contract on the Multi Commodity Exchange of India closed at Rs 13,265, down Rs 63 rupees from the previous close.
“Gold demand is very low as prices rose recently,” said Sanjeev Garg, director with Delhi-based LMJ International, a bullion trader.
The foreign gold that guides the local market, edged slightly lower on Monday as concerns over physical demand weighed, while U.S. crude oil slipped to under $40 a barrel in a thin market.
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