Gold futures down on global cues

Gold prices moved down by 0.34% to Rs 27,323 per 10 gm in futures trade on Tuesday after participants off-loaded partial positions, taking weak cues from the global market.

Gold prices moved down by 0.34% to Rs 27,323 per 10 gm in futures trade on Tuesday after participants off-loaded partial positions, taking weak cues from the global market.

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At the Multi Commodity Exchange, gold for delivery in far-month August eased by Rs 92, or 0.34%, to Rs 27,323 per 10 gm in business turnover of 19 lots.

Likewise, the metal for delivery in June shed Rs 87, or 0.32%, to Rs 27,009 per 10 gm in 639 lots.

Market analysts said a weak trend in the overseas markets on signs that physical purchases may be slowing after prices climbed to the highest since April 15, mainly put pressure on gold futures in Delhi.

Globally, gold fell 0.7% to USD 1,459.60 an ounce in Singapore on Tuesday.