Gold futures fall on weak global cues

Written by Press Trust of India | New Delhi | Updated: Aug 20 2014, 19:31pm hrs
Gold prices fell 0.14 per cent to Rs 28,259 per 10 grams in futures trade today as participants reduced positions on weak trend overseas amidst subdued demand at domestic spot markets.

At the Multi Commodity Exchange, gold for delivery in December eased by Rs 40, or 0.14 per cent, to Rs 28,259 per 10 grams in a business turnover of 199 lots.

Likewise, the metal for delivery in October shed Rs 33, or 0.12 per cent, to Rs 28,219 per 10 grams in 1,368 lots.

Market analysts said there is a weakening trend in the overseas markets as dollar strengthened, reducing the appeal of the metal and pressuring the gold prices in futures trade.

Globally, gold fell 0.05 per cent to USD 1,294.60 an ounce in Singapore.