Gold falls by 0.8% on weak global cues
The precious metal tumbled to over five-year lows in the global market
 "Gold falls by 0.8% on weak global cues")
Gold prices were down by Rs 193 to Rs 24,758 per 10 grams today in futures trade after the precious metal tumbled to over five-year lows in the global market.
In futures trading, gold for delivery in far-month October plunged by Rs 193, or 0.77%, to Rs 24,758 per 10 grams in a business turnover of 59 lots at the Multi Commodity Exchange.
Also, the metal for delivery in August was down by Rs 188, or 0.76% to Rs 24,546 per 10 grams in 395 lots.
Globally, gold was trading 1.2% lower at $1,07.40 an ounce in Singapore today, the lowest since February 11, 2010.
In futures trading, gold for delivery in far-month October plunged by Rs 193, or 0.77%, to Rs 24,758 per 10 grams in a business turnover of 59 lots at the Multi Commodity Exchange.
Also, the metal for delivery in August was down by Rs 188, or 0.76% to Rs 24,546 per 10 grams in 395 lots.
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Market Analysts said a weak trend in the overseas markets where gold extended losses to over five-year low, as US economic data that showed improvement backed the case for higher interest rates, weighed on the precious metal futures prices here.
Globally, gold was trading 1.2% lower at $1,07.40 an ounce in Singapore today, the lowest since February 11, 2010.