Gold futures down on weak global cues
PTI: New Delhi, Jan 04 2013, 11:02 IST
Gold futures prices today fell by 0.47 per cent to Rs 30,800 per 10 grams as speculators reduced their exposures amid a weak trend overseas.
At the Multi Commodity Exchange, gold for delivery in February fell by Rs 145, or 0.47 per cent, to Rs 30,800 per 10 grams, with a business turnover of 1,582 lots.
Similarly, the metal for delivery in far-month April moved down by Rs 134, or 0.43 per cent, to Rs 31,359 per 10 grams, with a business turnover of 114 lots.
Globally, spot gold fell as much as 1.1 per cent to USD 1,646.15 an ounce, the lowest since December 21 in Singapore today.
Marketmen said a weak trend in global markets as the US Federal Reserve policy makers said that they will probably end asset purchases this year and investors cut holdings by the most since May, put pressure on the gold prices at futures
trade.
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