Gold futures fall on global cues

Gold prices fell by Rs 67 to Rs 27,834 per 10 grams in futures trade on Tuesday after speculators off-loaded their positions, tracking a weak trend in global markets.

Gold prices fell by Rs 67 to Rs 27,834 per 10 grams in futures trade on Tuesday after speculators off-loaded their positions, tracking a weak trend in global markets.

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At the Multi Commodity Exchange, gold for delivery in April fell by Rs 67, or 0.24%, to Rs 27,834 per 10 grams, with a business turnover of 3,319 lots.

Similarly, the metal for delivery in June declined by Rs 66, or 0.23%, to Rs 28,231 per 10 grams, with an open interest of 148 lots.

Market analysts said offloading of positions by speculators largely in tandem with a weak trend in global markets led to a fall in gold prices at futures trade.

Meanwhile, gold fell by $ 7.20 to $ 1,656.30 an ounce in Singapore.