Gold sheds 0.17% in futures trade on weak global cues

Traders at home trim positions as US jobs report keeps pressure on precious metal, which loses 0.3% in Singapore

Gold prices fell by Rs 43 to Rs 25,799 per 10 grams in futures trade today as participants trimmed their positions, largely in tune with a weak trend overseas amid profit-booking.

In futures trading, gold for delivery in far-month April next year was trading Rs 43, or 0.17 per cent down, at Rs 25,799 per 10 grams at Multi Commodity Exchange with a business turnover of 4 lots.

February gold shed Rs 29, or 0.11 per cent, to Rs 25,686 per 10 grams in 502 lots.

Analysts said a weakening trend in the overseas markets where gold decline as investors weighed a US jobs report that showed both a growth in payrolls and a rise in the rate of underemployment, kept pressure on the precious metal at futures trade here.
 

Globally, gold fell 0.3 per cent to $1,082.83 an ounce in Singapore.