Gold futures fall 0.4% on global cues

End of marriage season demand weighed on prices

Gold prices fell by 0.44% to Rs 28,524 per 10 gm in futures trade today, as speculators engaged in trimming their positions, taking weak cues from overseas markets.

Also, a weakening trend on the spot markets following slackened demand due to end of the marriage season had a negative impact on gold futures here.

At the MCX, the June delivery declined by Rs 127, or 0.44%, to Rs 28,524 per 10 gm in a business turnover of 1,392 lots.

The August delivery moved down by Rs 122, or 0.43%, to Rs 28,933 per 10 gm in 96 lots.

Marketmen said the fall in gold prices at futures trade was mostly attributed to a weakening trend overseas.

Meanwhile, gold in Singapore, fell one percent to trade at $1,589.48 an ounce, the lowest price since January 3.