Gold futures down on weak global cues

Jun 18 2014, 11:43 IST
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SummaryAmidst a weak trend overseas, gold prices fell 0.50 per cent to Rs 26,706 per 10 gram in futures trade today as speculators indulged in trimming positions.

Amidst a weak trend overseas, gold prices fell 0.50 per cent to Rs 26,706 per 10 gram in futures trade today as speculators indulged in trimming positions.

At the Multi Commodity Exchange, gold for delivery in August contracts eased by Rs 133, or 0.50 per cent, to Rs 26,706 per 10 gram in business turnover of 339 lots.

Likewise, the metal for delivery in far-month October contracts shed Rs 124, or 0.46 per cent, to Rs 26,767 per 10 gram in four lots.

Analysts said a weak trend in the overseas markets before the US Federal Reserve concludes a two-day policy meeting today put pressure on the gold prices at futures trade here.

Globally, gold was trading lower at USD 1,269.25 an ounce in Singapore today from USD 1,270.58 yesterday.

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