Gold futures fall by 0.2% on weak global cues
Participants reduced their positions, largely in line with a weak trend overseas
 "Gold futures fall by 0.2% on weak global cues")
Gold drifted lower by Rs 74 to Rs 30,048 per 10 grams in futures trade today as participants reduced their positions, largely in line with a weak trend overseas.
At Multi Commodity Exchange, gold for delivery in August was trading lower by Rs 74 or 0.25% at Rs 30,048 per 10 grams in a business turnover of 215 lots.
Also, the metal for delivery in far-month October shed Rs 67 or 0.22% to Rs 30,308 per 10 grams in 2 lots.
Globally, gold fell 0.06% to $1,265.20 an ounce in Singapore.
At Multi Commodity Exchange, gold for delivery in August was trading lower by Rs 74 or 0.25% at Rs 30,048 per 10 grams in a business turnover of 215 lots.
Also, the metal for delivery in far-month October shed Rs 67 or 0.22% to Rs 30,308 per 10 grams in 2 lots.
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Analysts said a weak trend in the overseas markets where gold dropped for a fourth straight day just before the start of Britain's referendum on its futures in the European Union, weighed on the precious metal in futures trade here.
Globally, gold fell 0.06% to $1,265.20 an ounce in Singapore.