Gold futures down on weak global cues

Aug 13 2014, 12:46 IST
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The metal for delivery in far-month December shed Rs 28 or 0.10 per cent, to Rs 28,721 per 10 gram in 54 lots. (Photo: AP) The metal for delivery in far-month December shed Rs 28 or 0.10 per cent, to Rs 28,721 per 10 gram in 54 lots. (Photo: AP)
SummaryGold prices fell 0.11 per cent to Rs 28,699 per 10 gram in futures trade today.

Gold prices fell 0.11 per cent to Rs 28,699 per 10 gram in futures trade today as participants reduced their positions largely with a weak trend overseas amidst subdued demand at domestic spot markets.

At the Multi Commodity Exchange, gold for delivery in October contracts eased by Rs 50, or 0.11 per cent, to Rs 28,699 per 10 gram in business turnover of 549 lots.

Likewise, the metal for delivery in far-month December shed Rs 28 or 0.10 per cent, to Rs 28,721 per 10 gram in 54 lots.

Analysts said there is a weakening trend in the overseas markets as the dollar strengthened, reducing the appeal of the metal and pressuring the gold prices in futures trade.

Globally, gold fell to USD 1,309.23 an ounce in Singapore from USD 1,309.51 yesterday.

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