Gold futures decline 0.15% on global cues

Gold prices fell by 0.15% to Rs 27,419 per 10 grams in futures trading on Friday as speculators trimmed positions, tracking a weak global trend.

Gold prices fell by 0.15% to Rs 27,419 per 10 grams in futures trading on Friday as speculators trimmed positions, tracking a weak global trend.

HT Image

At the Multi Commodity Exchange, gold for delivery in October declined by Rs 42, or 0.15% to Rs 27,419 per ten gram in business turnover of 230 lots.

Similarly, the metal for delivery in far-month December traded lower by Rs 36, or 0.13% to Rs 27,599 per ten gram in 2 lot.

Analysts attributed the fall in gold futures to a weak global trend as the dollar strengthened before data that may back the case for the Federal Reserve to raise borrowing costs at a time when the European Central Bank boosts stimulus.

Meanwhile, gold fell 0.3% to $1,257.36 an ounce, the lowest level since June 10 in Singapore.