Gold price futures down on weak global cues

Written by PTI | New Delhi | Updated: Aug 4 2014, 16:59pm hrs
Gold prices moved down by 0.24 per cent to Rs 28,153 per 10 grams in futures trading today after participants offloaded partial positions amid weak cues from global markets.

At the Multi Commodity Exchange (MCX), gold for delivery in far-month October declined by Rs 69, or 0.24 per cent, to Rs 28,153 per 10 grams in a business turnover of 72 lots.

Likewise, the metal for delivery in August shed Rs 19, or 0.07 per cent, to Rs 28,035 per 10 grams in two lots.

Market analysts said a weak trend in overseas markets put pressure on the precious metal at futures trade here.

Globally, gold traded 85 cents lower at USD 1,292.90 an ounce in Singapore today.