Gold futures fall 0.45% on global cues
Speculators indulged in trimming positions in tandem with a weak global trend
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Gold prices fell by 0.45% to Rs 28,966 per ten grams in futures trade today as speculators indulged in trimming positions in tandem with a weak global trend.
At the Multi Commodity Exchange, gold for delivery in February fell by Rs 130, or 0.45% to Rs 28,966 per ten grams in business turnover of 1,274 lots.
Similarly, the metal for delivery in far-month April contracts lost Rs 99, or 0.35%, to Rs 28,373 per ten grams in 128 lots.
Analysts attributed the fall in gold futures to speculators trimmed positions in tandem with a weak global trend amid speculation that the US Federal Reserve will continue reducing asset purchases.
Meanwhile, gold fell 0.5% to $1,239 an ounce in Singapore in early trade today.
At the Multi Commodity Exchange, gold for delivery in February fell by Rs 130, or 0.45% to Rs 28,966 per ten grams in business turnover of 1,274 lots.
Similarly, the metal for delivery in far-month April contracts lost Rs 99, or 0.35%, to Rs 28,373 per ten grams in 128 lots.
Analysts attributed the fall in gold futures to speculators trimmed positions in tandem with a weak global trend amid speculation that the US Federal Reserve will continue reducing asset purchases.
Meanwhile, gold fell 0.5% to $1,239 an ounce in Singapore in early trade today.
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First Published: Jan 15 2014 | 11:40 AM IST