Gold price falls 0.08% on weak global cues

Written by PTI | New Delhi | Updated: Jul 16 2014, 18:44pm hrs
Gold priceTracking weak trend overseas, gold futures fell 0.08 per cent to Rs 27,672 per 10 grams today as speculators reduced their exposures amidst a weak global trend. (Photo: AP)
Tracking weak trend overseas, gold futures fell 0.08 per cent to Rs 27,672 per 10 grams today as speculators reduced their exposures amidst a weak global trend.

At the Multi Commodity Exchange, gold for delivery in far-month October fell by Rs 21, or 0.08 per cent, to Rs 27,672 per 10 grams in a business turnover of 28 lots.

On similar lines, the metal for delivery in August eased by Rs 16, or 0.06 per cent, to Rs 27,632 per 10 grams in 712 lots.

Market analysts said the fall in gold futures was mostly in line with a weak trend overseas as the outlook for higher borrowing costs in the US strengthened the dollar and damped demand for safe-haven.

Meanwhile, gold prices fell by 1.01 per cent to USD 1,293.60 an ounce in New York yesterday's trade.