Gold futures down on weak global cues
Participants offloaded partial positions, taking weak cues from the global market
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<a href="http://www.shutterstock.com/pic-70309495/stock-photo-background-with-gold-of-coins.html" target="_blank">Gold</a> image via Shutterstock
Gold futures prices today moved down by 0.24% to Rs 30,085 per 10 gram, after participants offloaded partial positions, taking weak cues from the global market.
At the Multi Commodity Exchange, gold for delivery in April eased by Rs 73, or 0.24%, to Rs 30,085 per 10 gm in business turnover of 451 lots.
Likewise, the metal for delivery in far-month June shed Rs 18, or 0.06%, to Rs 29,395 per 10 gm in 75 lots.
Market analysts said a weak trend in the Asian markets after investors cut holdings due to slowed physical purchases in China, the world's largest consumer, mainly weighed on the gold prices at futures trade here.
Globally, gold traded lower at $1,336.80 an ounce in early trade today as against yesterday's $1,336.90 in Singapore.
At the Multi Commodity Exchange, gold for delivery in April eased by Rs 73, or 0.24%, to Rs 30,085 per 10 gm in business turnover of 451 lots.
Likewise, the metal for delivery in far-month June shed Rs 18, or 0.06%, to Rs 29,395 per 10 gm in 75 lots.
Market analysts said a weak trend in the Asian markets after investors cut holdings due to slowed physical purchases in China, the world's largest consumer, mainly weighed on the gold prices at futures trade here.
Globally, gold traded lower at $1,336.80 an ounce in early trade today as against yesterday's $1,336.90 in Singapore.
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First Published: Mar 06 2014 | 10:55 AM IST