Gold futures slip lower on global trend

Gold futures prices fell by Rs 38 to Rs 19,670 per 10 gram today, after speculators reduced their holdings, tracking weak trend at the global markets.

Gold futures prices fell by Rs 38 to Rs 19,670 per 10 gram on Wednesday, after speculators reduced their holdings, tracking weak trend at the global markets.

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At the Multi Commodity Exchange counter, gold for delivery in December fell by Rs 38, or 0.20 per cent, to Rs 19,670 per 10 gram, with a trade volume of 657 lots.

Similarly, the metal for delivery in February by Rs 32, or 0.18 per cent, to Rs 19,884 per 10 gram, with a business turnover of 27 lots.

Analysts said weak trend in the global markets led to the decline in gold futures prices.

Meanwhile, gold fell by USD 3.20 to USD 1,354.30 an ounce in the Asian region.