Gold futures drop Rs 89 on weak global cues

Amid a weakening global trend, gold futures traded lower by Rs 89 at Rs 30,018 per 10 grams today as speculators trimmed positions.
At the Multi Commodity Exchange, gold for delivery in April was trading lower by Rs 89, or 0.30 per cent, at Rs 30,018 per 10 grams in a business turnover of 170 lots.
Similarly, the metal for delivery in June fell by Rs 82, or 0.27 per cent, to Rs 30,165 per 10 grams in 11 lots.
Analysts said the fall in gold futures was mostly attributed to cutting down of positions by participants in tune with a weak trend overseas.

Meanwhile, gold prices fell 0.10 per cent to USD 1,317 an ounce in Singapore today.