Gold falls by 0.1% in futures trade on weak global cues
Participants reduced their positions, largely in line with a weak trend overseas
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Gold prices fell Rs 46 to Rs 26,365 per 10 grams in futures trade today as participants reduced their positions, largely in line with a weak trend overseas.
At Multi Commodity Exchange, gold for delivery in August contract was trading lower by Rs 46, or 0.17%, at Rs 26,365 per 10 grams in a business turnover of 131 lots.
Also, the metal for delivery in October shed Rs 34, or 0.13%, to Rs 26,616 per 10 grams in 8 lots.
Analysts said there is a weakening trend in the overseas markets where gold retreated before a US employment report that's expected to provide further clues on timing of Fed's rate increase, which weighed on the precious metal in futures trade here.
Globally, gold fell 0.1% to $1,167.95 an ounce in Singapore.
At Multi Commodity Exchange, gold for delivery in August contract was trading lower by Rs 46, or 0.17%, at Rs 26,365 per 10 grams in a business turnover of 131 lots.
Also, the metal for delivery in October shed Rs 34, or 0.13%, to Rs 26,616 per 10 grams in 8 lots.
Analysts said there is a weakening trend in the overseas markets where gold retreated before a US employment report that's expected to provide further clues on timing of Fed's rate increase, which weighed on the precious metal in futures trade here.
Globally, gold fell 0.1% to $1,167.95 an ounce in Singapore.
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First Published: Jul 02 2015 | 10:42 AM IST