Gold futures down 0.35% on weak global cues
Signs of easing geopolitical concerns in Ukraine reduce demand for safe haven gold
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<a href="http://www.shutterstock.com/pic-101030746/stock-photo-close-up-of-the-gold-coins.html" target="_blank">Gold</a> image via Shutterstock
Gold prices moved down by 0.35% to Rs 27,990 per 10 gram in futures trade today after participants offloaded partial positions, taking weak cues from global market.
At the Multi Commodity Exchange, gold for delivery in August declined by Rs 97, or 0.35%, to Rs 27,990 per 10 gram in business turnover of 176 lots.
October gold shed Rs 88, or 0.31%, to Rs 28,040 per 10 gram in four lots.
Market analysts said a weak trend in overseas markets on easing geopolitical tensions in Ukraine reduced demand for safe haven gold, putting pressure on the precious metal at futures trade here.
Globally, gold traded 0.30% lower at $1,308.20 an ounce in Singapore today.
At the Multi Commodity Exchange, gold for delivery in August declined by Rs 97, or 0.35%, to Rs 27,990 per 10 gram in business turnover of 176 lots.
October gold shed Rs 88, or 0.31%, to Rs 28,040 per 10 gram in four lots.
Market analysts said a weak trend in overseas markets on easing geopolitical tensions in Ukraine reduced demand for safe haven gold, putting pressure on the precious metal at futures trade here.
Globally, gold traded 0.30% lower at $1,308.20 an ounce in Singapore today.
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First Published: Jul 22 2014 | 10:37 AM IST