 "Gold futures down on weak global cues")
Gold prices fell 0.20% to Rs 29,342 per 10 grams in futures trade today as participants reduced their positions largely in tandem with a weak trend overseas.
Besides, subdued spot demand where the precious metal dipped to 10-month low, also weighed on the prices.
At the Multi Commodity Exchange, the June contract for the yellow metal eased by Rs 60, or 0.20%, to Rs 29,345 per 10 gm in business turnover of 601 lots.
In the spot markets, gold prices dropped to a 10-month low of Rs 29,500 per ten grams in the national capital due to absence of demand on account of off-marriage season.
Market analysts said besides subdued domestic demand, a weak trend in the overseas markets as investors reduced asset holdings amid optimism a global economic recovery will curb safe haven demand, mainly weighed on the gold prices at futures trade here.
Globally, gold fell 0.3% to $1,549.62 an ounce in Singapore today.
Besides, subdued spot demand where the precious metal dipped to 10-month low, also weighed on the prices.
At the Multi Commodity Exchange, the June contract for the yellow metal eased by Rs 60, or 0.20%, to Rs 29,345 per 10 gm in business turnover of 601 lots.
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The August contract shed Rs 42, or 0.14%, to Rs 29,800 per 10 gm in 42 lots.
In the spot markets, gold prices dropped to a 10-month low of Rs 29,500 per ten grams in the national capital due to absence of demand on account of off-marriage season.
Market analysts said besides subdued domestic demand, a weak trend in the overseas markets as investors reduced asset holdings amid optimism a global economic recovery will curb safe haven demand, mainly weighed on the gold prices at futures trade here.
Globally, gold fell 0.3% to $1,549.62 an ounce in Singapore today.
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