Gold futures prices fall on weak global cues

Written by PTI | New Delhi | Updated: Jul 7 2014, 16:22pm hrs
Gold prices fell by 0.21 per cent to Rs 27,499 per 10 grams in futures trade today as speculators trimmed positions amid a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in August eased by Rs 58, or 0.21 per cent, to Rs 27,499 per 10 grams in a business turnover of 101 lots.

Similarly, the metal for delivery in October shed Rs 50, or 0.18 per cent, to Rs 27,586 per 10 grams in just one lot.

Analysts said a weak trend in overseas markets as the outlook for higher borrowing costs in the US strengthened the dollar, reducing demand for the precious metal, put pressure on gold prices at futures trade here.

Globally, gold traded 0.40 per cent lower at USD 1,315.57 an ounce in Singapore today.