Gold futures fall on global cues
Gold lost 0.5 per cent to $1,706.31 an ounce in Singapore
Gold prices fell by Rs 121 to Rs 30,831 per 10 grams in futures trade today as speculators offloaded their positions, taking negative cues from overseas.
At the Multi Commodity Exchange, gold for delivery in December fell by Rs 121, or 0.39 per cent to Rs 30,831 per 10 grams in business turnover of 9,498 lots.
Similarly, the metal for delivery in February contract moved down by Rs 95, or 0.30 per cent, to Rs 31,243 per 10 grams in 601 lots.
Market analysts attributed the fall in gold futures to weak global trend as reports on US employment, manufacturing and consumer confidence signalled improvement in the world's largest economy, boosting the dollar.
Meanwhile, gold lost 0.5 per cent to $1,706.31 an ounce in Singapore.