Gold futures down by 0.2% on weak global cues

A weak trend overseas and profit-booking by speculators put pressure on gold

Amid a weak trend overseas and profit-booking by speculators, gold prices fell marginally by 0.16% to Rs 27,620 per 10 gm in futures trade today.

 

At the Multi Commodity Exchange, gold for delivery in October eased by Rs 45 or 0.16% to Rs 27,620 per 10 gm in business turnover of 2,651 lots.

 

Likewise, the metal for delivery in August shed Rs 10, or 0.03%, to Rs 27,570 per 10 gm in 9,900 lots.

 

Analysts said besides a weak trend overseas, where gold fell from a one-month high in London after the biggest advance in a year spurred some investors to sell the metal, put pressure on the precious metal prices at futures trade here.

 

Globally, gold fell $6.60 or 0.49% to $1,328.60 an ounce in London today after reaching $1,341.10 yesterday.