Gold futures decline 0.18 pct on global cues

PTI Posted online: Wednesday, Jan 22, 2014 at 0000 hrs
New Delhi : Tracking a weak global trend, gold prices declined by 0.18 per cent to Rs 29,187 per ten grams in futures trade today as speculators offloaded their positions.

At the Multi Commodity Exchange, gold for delivery in February declined by Rs 54, or 0.18 per cent, to Rs 29,187 per ten grams in a business turnover of 1,498 lots.

Similarly, the yellow metal for delivery in April traded lower by Rs 31, or 0.11 per cent, to Rs 28,615 per ten grams in 53 lots.

Market analysts said offloading of positions by speculators, in line with a weak global trend, mainly led to decline in gold prices at futures trade.

Meanwhile, gold fell by 1.12 per cent to USD 1,240.60 an ounce in New York last night.