Gold near four-month low, MCX futures slide under Rs 150000 per 10 grams

Gold futures continued to see heavy losses on rising inflation concerns. US inflation data reinforced expectations of a Federal Reserve (Fed) interest rate hike later this year. US Personal Consumption Expenditures (PCE) Price Index climbed 0.5% in September after a 0.3% rise in August, the Commerce Department?s Bureau of Economic Analysis showed. This pulled down precious metals heavily in last session and COMEX Gold fell near four month low today. The yellow metal is currently quoting at $4006 per ounce, down 0.60% on the day. It has lost around 30% from its record high now and is off around 4% in last three months. MCX Gold futures tanked under Rs 150000 per 10 grams and currently quote at Rs 141902 per 10 grams, down 0.49% on the day.

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