Gold futures decline on weak global cues
At the Multi Commodity Exchange, gold for delivery in far-month April fell by Rs 80, or 0.26 per cent, to Rs 31,256 per 10 grams, with a business turnover of 72 lots.
Similarly, the metal for delivery in February moved down by Rs 74, or 0.24 per cent, to Rs 30,839 per 10 grams, with a business turnover of 1,213 lots.
Globally, spot gold fell as much as 0.3 per cent to USD 1,652.20 an ounce in Singapore today.
Marketmen said a weak trend in global markets as US budget talks stalled, leading to concerns that the lawmakers will fail to agree on a deal to avoid tax increases and spending cuts, mainly put pressure on gold futures here.
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