Weak global cues drag down gold futures 0.23 pc

Tracking a weak trend overseas, gold prices traded lower by 0.23 per cent to Rs 28,328 per 10 grams in futures trade today as participants cut down their bets.
At the Multi Commodity Exchange, gold prices for delivery in February fell by Rs 65, or 0.23 per cent, to Rs 28,328 per ten grams in a business turnover of 582 lots.
Similarly, the metal for delivery in April was trading down by Rs 60, or 0.21 per cent, to Rs 28,333 per ten grams in 24 lots.
Analysts attributed the slide in gold futures to a weak trend overseas.
Meanwhile, gold declined 0.18 per cent, to USD 1,192.80 an ounce in Singapore.