Gold futures extend losses, down 0.34% on global cues

Jun 25 2014, 12:46 IST
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SummaryContinuing its losing streak for the third day, gold prices fell by 0.34 per cent to Rs 27,637 per ten gram in futures trading today as speculators engaged in offloading positions, tracking a weak global trend.

Continuing its losing streak for the third day, gold prices fell by 0.34 per cent to Rs 27,637 per ten gram in futures trading today as speculators engaged in offloading positions, tracking a weak global trend.

At the Multi Commodity Exchange, gold for delivery in August declined by Rs 94, or 0.34 per cent, to Rs 27,637 per ten gram in business turnover of 1,950 lots.

Similarly, the yellow metal for delivery in far-month October lost Rs 71, or 0.26 per cent, to Rs 27,828 per ten gram in 36 lots.

Analysts attributed the fall in gold futures to a weak trend overseas as investors weighed the outlook for the US economy against speculation that a rally to the highest level in two months may spur sales.

Meanwhile, gold shed 0.6 per cent to USD 1,310.70 an ounce in Singapore.

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