Gold futures prices down on weak global cues

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Gold for delivery in February declined by Rs 86, or 0.30 per cent, to Rs 28,868 per 10 gm. (AP) Gold for delivery in February declined by Rs 86, or 0.30 per cent, to Rs 28,868 per 10 gm. (AP)
SummaryGold for delivery in February declined by Rs 86, or 0.30 per cent, to Rs 28,868 per 10 gm.

Gold futures prices moved down by 0.30 per cent to Rs 28,868 per 10 gm in futures trade today after participants offloaded partial positions, taking weak cues from the global market.

At the Multi Commodity Exchange, gold for delivery in February declined by Rs 86, or 0.30 per cent, to Rs 28,868 per 10 gm in business turnover of 474 lots.

Likewise, the metal for delivery in April shed Rs 76, or 0.27 per cent, to Rs 28,397 per 10 gm in 15 lots.

Market analysts said a weak trend in the overseas markets as investors assessed the probability of a reduction in monetary stimulus this month after the US added more workers than forecast in November, mainly put pressure on gold prices at futures trade.

Globally, gold fell 0.20 per cent to USD 1,228.30 an ounce in Singapore today.

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