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  1. Gold futures decline on global cues

Gold futures decline on global cues

Gold prices edged marginally lower at Rs 25,462 per 10 grams in futures trading at the MCX today...

By: | New Delhi | Published: November 6, 2014 7:49 PM

Gold prices edged marginally lower at Rs 25,462 per 10 grams in futures trading at the Multi Commodity Exchange today as participants trimmed positions in line with a weak global trend.

MCX opened for the evening session as it remained closed in the morning on account of ‘Guru Nanak Jayanti’.

Gold for delivery in December contracts declined by Rs 31, or 0.12 per cent to Rs 25,462 per 10 gram in business turnover of 857 lots.

Similarly, the metal for delivery in February contracts traded lower by Rs 8, or 0.03 per cent to Rs 25,663 per 10 gram in 9 lots.

Market analysts said offloading of positions by speculators in tandem with a weak global trend mainly put pressure on gold prices at futures trade here.

Globally, gold fell by 2.41 per cent to USD 1,140 an ounce in New York yesterday.

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