Gold futures slide 0.15 per cent on the back of weak global trend

Written by Press Trust of India | New Delhi | Updated: Sep 5 2014, 16:50pm hrs
Gold futuresAnalysts attribute the fall in gold futures to a weak global trend. (Reuters)
Gold prices fell by 0.15 per cent to Rs 27,419 per 10 grams in futures trading today as speculators trimmed positions, tracking a weak global trend.

At the Multi Commodity Exchange, gold for delivery in October declined by Rs 42, or 0.15 per cent to Rs 27,419 per ten gram in business turnover of 230 lots.

Similarly, the metal for delivery in far-month December traded lower by Rs 36, or 0.13 per cent to Rs 27,599 per ten gram in 2 lot.

Analysts attributed the fall in gold futures to a weak global trend as the dollar strengthened before data that may back the case for the Federal Reserve to raise borrowing costs at a time when the European Central Bank boosts stimulus.

Meanwhile, gold fell 0.3 per cent to USD 1,257.36 an ounce, the lowest level since June 10 in Singapore.