Gold down 0.2% on weak global cues
Metal for delivery in June shed 0.14%
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Gold prices fell 0.20% to Rs 25,829 per 10 gram in futures trade today as investors reduced positions in line with a weak trend in overseas markets amidst subdued demand in domestic spot markets.
At the Multi Commodity Exchange, gold for delivery in August eased by Rs 52, or 0.20% to Rs 25,829 per 10 gram in business turnover of 149 lots.
Likewise, the metal for delivery in June shed Rs 38, or 0.14% to Rs 26,825 per 10 gram in 33 lots.
Market analysts said there is a weakening trend in the overseas markets as hedge funds pared bets on a rally in the metal as demand for a safe haven declined and put pressure on gold prices at futures trade here.
Globally, gold fell 0.30% to USD 1,246.50 an ounce in Singapore.
At the Multi Commodity Exchange, gold for delivery in August eased by Rs 52, or 0.20% to Rs 25,829 per 10 gram in business turnover of 149 lots.
Likewise, the metal for delivery in June shed Rs 38, or 0.14% to Rs 26,825 per 10 gram in 33 lots.
Market analysts said there is a weakening trend in the overseas markets as hedge funds pared bets on a rally in the metal as demand for a safe haven declined and put pressure on gold prices at futures trade here.
Globally, gold fell 0.30% to USD 1,246.50 an ounce in Singapore.
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First Published: Jun 02 2014 | 11:30 AM IST