markettrend766
20-09-2008, 08:41 AM
Gold futures continued to lean down on Friday and plunged over 6.55 per cent to hit the lower circuit limit on traders reducing their holdings sparked by a steep fall in overseas markets. The precious metal, which commenced the day lower by five per cent, rolled down further on reports of largest single day fall in New York. All the running four contracts April, February,December and October were trading lower between 4.01 to 6.55 per cent on the Multi Commodity Exchange. Gold futures for December dropped 68.50 dollar to 828.50 dollar an ounce on the Comex division of the New York Mercantile Exchange, the biggest percentage decline since Nov. 7, 1980.