Gold futures down on weak global cues

By: | Published: July 12, 2016 12:48 PM

Analysts said a weak trend in the overseas markets where gold fell from the highest in more than two years as equities surged and the dollar advanced following a jump in the US payrolls, reducing demand for the precious metal as a store of value weighed on the precious metal prices in futures trade.

Likewise, the metal for delivery in far-month October was trading down by Rs 38, or 0.12 per cent, to Rs 32,000 per 10 gram in 23 lots. (Source: Reuters)Likewise, the metal for delivery in far-month October was trading down by Rs 38, or 0.12 per cent, to Rs 32,000 per 10 gram in 23 lots. (Source: Reuters)

Amid a weak trend overseas, gold prices fell 0.15 per cent to Rs 31,532 per 10 gram in futures trade today as participants cut down their bets.

At the Multi Commodity Exchange, gold for delivery in August eased Rs 46, or 0.15 per cent, to Rs 31,532 per 10 gram, in a business turnover of 760 lots.

Likewise, the metal for delivery in far-month October was trading down by Rs 38, or 0.12 per cent, to Rs 32,000 per 10 gram in 23 lots.

Analysts said a weak trend in the overseas markets where gold fell from the highest in more than two years as equities surged and the dollar advanced following a jump in the US payrolls, reducing demand for the precious metal as a store of value weighed on the precious metal prices in futures trade.

Globally, gold slid 0.8 per cent down at USD 1,355.49 an ounce in New York yesterday.

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