Gold futures marginally down on lower global trend

Gold prices traded marginally lower by Rs 6 or 0.03 per cent to Rs 18,863 per ten gram in futures trade today on fresh selling by traders, influenced by a weakening global trend.

Gold prices traded marginally lower by Rs 6 or 0.03 per cent to Rs 18,863 per ten gram in futures trade on Thursday on fresh selling by traders, influenced by a weakening global trend.

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Trading sentiment turned somewhat weak, after reports that gold declined in Asia, as some investors sold the metal to lock in gains after it climbed to an all-time high, and haven demand falls after Japan raised an estimate for growth.

At the Multi Commodity Exchange platform, gold for October contract shed Rs 6, or 0.03 per cent to Rs 18,863 per ten gram, with an open interest of 1,572 lots.

Similarly, the metal for delivery in August contract traded lower by Rs 3, or 0.02 per cent to Rs 18,786 per ten gram, with a business turnover of 19,683 lots.

Marketmen said fresh selling by traders in tandem with a weakening global trend helped gold prices to trade slightly lower at futures trade.

Meanwhile, gold fell $0.3 per cent to $1,229.38 an ounce in the Asian region. The metal advanced to a record $1,252.11 an ounce on June 8.