Gold falls 0.11% on weak global cues

Tracking weak trend overseas, gold futures fell 0.11% to Rs 27,835 per 10 grams on Wednesday as speculators reduced their exposures amidst a weak global trend.

Tracking weak trend overseas, gold futures fell 0.11% to Rs 27,835 per 10 grams on Wednesday as speculators reduced their exposures amidst a weak global trend.

At the Multi Commodity Exchange, gold for delivery in August month contracts fell by Rs 31, or 0.11%, to Rs 27,835 per 10 grams in a business turnover of 525 lots.

On similar lines, the metal for delivery in far-month October eased by Rs 6, or 0.02%, to Rs 27,940 per 10 grams in 113 lots.

Market analysts said the fall in gold futures was mostly in line with a weak trend overseas.

Meanwhile, gold prices fell by 0.03% to trade at one-week low of $1,299.40 an ounce in Singapore on Wednesday.