Gold prices futures decline on weak global cues
At the Multi Commodity Exchange, gold prices for delivery in February fell by Rs 122, or 0.40 per cent, to Rs 30,732 per 10 gm in a business turnover of 1,569 lots.
Similarly, the metal prices for delivery in far-month April fell by Rs 115, or 0.37 per cent, to Rs 31,152 per 10 gm in 58 lots.
Market analysts attributed the fall in gold futures prices to a weak trend overseas as optimism that the US economy is recovering and lawmakers will reach a budget deal
dampened demand for the metal as a protection of wealth.
Globally, gold fell 0.40 per cent to USD 1,651.62 an ounce in Singapore.
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