Gold futures fall 0.14% on global cues

The precious metal fell 0,4% to $1,270.97 an ounce in Singapore

Gold prices fell by 0.14% to Rs 30,010 per ten grams in futures trade today as speculators trimmed their positions on weak global trend.

 

At the Multi Commodity Exchange, gold for delivery in December fell by Rs 41, or 0.14%, to Rs 30,010 per ten grams in business turnover of 3,052 lots.

 

Similarly, the yellow metal for delivery in February traded lower by Rs 35, or 0.12%, to Rs 29,415 per ten grams in 283 lots.

 

Analysts said speculators trimmed their positions in tandem with a weak global trend as investors weighed comments from Fed policy makers about the outlook for stimulus amid a rally in equities, mainly influenced gold prices at futures trade.

 

Meanwhile, gold dropped 0.4% to $1,270.97 an ounce in Singapore.