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HindustanTimes Thu,24 Apr 2014

Gold futures down on weak global cues

PTI  New Delhi, April 08, 2013
First Published: 12:14 IST(8/4/2013) | Last Updated: 12:27 IST(8/4/2013)

Gold prices fell 0.19% to Rs. 29,711 per 10 gm in futures trade on Monday, as participants reduced their positions largely in tandem with a weak trend overseas amid profit-booking.

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At the Multi Commodity Exchange, gold for delivery in June eased by Rs. 56, or 0.19%, in business turnover of 427 lots.

Likewise, the metal for delivery in far-month August shed Rs. 52, or 0.17%, to Rs. 30,168 per 10 gm in 7 lots.

Market analysts said a weakening trend in the overseas markets as investors cut holdings and dollar advanced and curbing demand for the metal as an alternative asset, mainly weighed on the gold prices at futures trade here.

Globally, gold fell 0.3% to USD 1,575.83 an ounce in Singapore on Monday.

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