Gold price futures down on weak global cues

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Gold prices moved down by 0.36 per cent to Rs 29,130 per 10 gram in futures trade after participants offloaded partial positions. Gold prices moved down by 0.36 per cent to Rs 29,130 per 10 gram in futures trade after participants offloaded partial positions.
SummaryGold prices moved down by 0.36 per cent to Rs 29,130 per 10 gram in futures trade after participants offloaded partial positions.

Gold prices moved down by 0.36 per cent to Rs 29,130 per 10 gram in futures trade after participants offloaded partial positions, taking weak cues from the global market.

At the Multi Commodity Exchange, gold for delivery in February 2014 eased by Rs 104, or 0.36 per cent, to Rs 29,130 per 10 gm in business turnover of 224 lots.

Likewise, the metal for delivery in December shed Rs 46, or 0.15 per cent, to Rs 30,190 per 10 gm in 7 lots.

Market analysts said a weak trend in the overseas markets on speculation that the Federal Reserve will begin reducing monetary stimulus as the US economy strengthens, mainly weighed on the gold prices at futures trade here.

Globally, gold fell 0.6 per cent to USD 1,245.87 anounce in Singapore on December 2.

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