Gold futures prices decline on weak global cues

Gold futures prices declined by 0.11 per cent on the Multi Commodity Exchange today as speculators indulged in reducing their positions in tandem with weak overseas trend.     

Gold for October month contract fell by 0.11 per cent to Rs 14,878 per ten gram, clocking an open interest of 14,170 lots.     

Similarly, gold for December contract shed 0.09 per cent to Rs 14,891 per ten gram, clocking an open interest of 1,217 lots.     

Marketmen said speculators reducing their positions influenced by weakening trend in the Asian region mainly led to fall in gold prices at futures market here.     

Meanwhile, gold prices traded lower in Hong Kong at 944 dollars an ounce against Friday's close of $956.30.