Gold price falls 0.11 per cent on weak global cues

Jul 30 2014, 12:21 IST
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SummaryTracking weak trend overseas, gold futures price fell 0.11 per cent to Rs 27,835 per 10 grams today as speculators reduced their exposures amidst a weak global trend.

Tracking weak trend overseas, gold futures price fell 0.11 per cent to Rs 27,835 per 10 grams today as speculators reduced their exposures amidst a weak global trend.

At the Multi Commodity Exchange (MCX), gold for delivery in August month contracts fell by Rs 31, or 0.11 per cent, to Rs 27,835 per 10 grams in a business turnover of 525 lots.

On similar lines, the metal for delivery in far-month October eased by Rs 6, or 0.02 per cent, to Rs 27,940 per 10 grams in 113 lots.

Market analysts said the fall in gold futures was mostly in line with a weak trend overseas.

Meanwhile, gold prices fell by 0.03 per cent to trade at one-week low of USD 1,299.40 an ounce in Singapore today.

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