Gold futures fall 0.70 per cent on global cues

Mar 24 2014, 11:27 IST
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Tracking a weak global trend, gold prices fell by 0.70 per cent to Rs 29,535 per 10 grams in futures market today as speculators offloaded their positions. (AP) Tracking a weak global trend, gold prices fell by 0.70 per cent to Rs 29,535 per 10 grams in futures market today as speculators offloaded their positions. (AP)
SummaryTracking a weak global trend, gold prices fell by 0.70 per cent to Rs 29,535 per 10 grams in futures market today as speculators offloaded their positions.

Tracking a weak global trend, gold prices fell by 0.70 per cent to Rs 29,535 per 10 grams in futures market today as speculators offloaded their positions.

At the Multi Commodity Exchange, gold for delivery in April fell by Rs 207, or 0.70 per cent, to Rs 29,535 per 10 grams in a business turnover of 804 lots.

Similarly, the yellow metal for delivery in June lost Rs 190, or 0.65 per cent, to Rs 29,107 per 10 grams in 70 lots.

Market analysts said the fall in gold futures was mostly due to a weakening trend in the global market on speculation that US interest rates will increase next year, curbing demand for the metal as a store of value.

Meanwhile, gold in Singapore dropped 0.70 per cent to USD 1,325.05 an ounce.

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