Gold futures decline 0.16 pc on global cues

Gold prices fell by 0.16 per cent to Rs 28,155 per 10 grams in futures trade today as speculators trimmed positions, tracking a weak global trend.

At the Multi Commodity Exchange, gold for delivery in August fell by Rs 44, or 0.16 per cent to Rs 28,155 per 10 grams in business turnover of 1,396 lots.

In a similar fashion, the yellow metal for delivery in October contracts shed Rs 11, or 0.04 per cent to Rs 28,100 per 10 grams in 71 lots.

Market analysts said the fall in gold futures was mostly in line with a weak trend overseas amid investors weighing the outlook for US monetary policy against increased geopolitical tensions.
 

Meanwhile, gold fell 0.3 per cent to USD 1,315.72 an ounce in Singapore.