Gold futures down on global cues

Written by PTI | New Delhi | Updated: Jul 8 2014, 17:00pm hrs
Gold prices moved down by 0.21 per cent to Rs 27,431 per 10 gram in futures trade today as participants offloaded positions partially, taking weak cues from the global market.

At the Multi Commodity Exchange, gold for delivery in August contracts declined by Rs 59, or 0.21 per cent, to Rs 27,431 per 10 gram in business turnover of 472 lots.

Likewise, the metal for delivery in far-month October shed Rs 38, or 0.14 per cent, to Rs 27,538 per 10 gram in three lots.

Market analysts said a weak trend in the overseas markets as investors weighed the outlook for US interest-rate policy, mainly weighed on gold prices at futures trade here.

Globally, gold lost 0.25 per cent to USD 1,316.70 an ounce in early trade in Singapore today.