Gold prices remain weak

Global and domestic cues have influenced gold prices to dip in both Indian and international markets, since some weeks, reports say. The investor sentiment has not been weak with the Greek crisis, worry over hike in interest rates in the US and the forecast of a poorer--than-normal monsoon in India this year, reports add. There is anticipation that as the US economy is indicating some improvement, the Federal Reserve rate hike could be expected. The stock market boost in China has reduced the demand for gold, reports add.

In the international market, the price of gold was slightly over the $ 1,170 per ounce mark, reaching almost the lowest level of gold prices over the last two months. In Mumbai, the price of gold touched Rs 26,700 per 10 gms, again reaching almost its lowest in the past two months, reports add.

As the Eurozone and Greece discussions continue, analysts predict the prices of gold would be around the same levels, as of now.