Gold futures shed 0.21% on off-loading of positions

Written by Press Trust of India | Mumbai | Updated: Aug 25 2014, 18:30pm hrs
Gold prices moved down by 0.21 per cent to Rs 27,754 per 10 gram in futures trade today as participants trimmed positions amid a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in October eased by Rs 59, or 0.21 per cent, to Rs 27,754 per 10 grams in a business turnover of 1,397 lots.

Likewise, the metal for delivery in far-month December shed Rs 53, or 0.19 per cent, to Rs 27,805 per 10 grams in 28 lots.

Analysts said off-loading of positions by speculators, taking weak cues from the global markets where it slipped to two-month low as strengthening dollar reduced appeal of the bullion, put pressure on gold prices at futures trade here.

Globally, gold rose as much as 0.5 per cent to USD 1,274.45 an ounce in Singapore today.