Gold down 0.1% on global cues
Metal for delivery in far-month April lost 0.07%
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Tracking a weak global trend, gold prices eased by 0.10% to Rs 27,950 per 10 grams in futures market today as speculators offloaded their positions.
At the Multi Commodity Exchange, gold for delivery in February fell by Rs 27, or 0.10%, to Rs 27,950 per 10 grams in a business turnover of 188 lots.
Similarly, the yellow metal for delivery in far-month April lost Rs 20, or 0.07%, to Rs 28,080 per 10 grams in 20 lots.
Market analysts said the fall in gold futures was mostly due to a weakening trend in the global market where gold traded below a five-month high as holdings in the SPDR Gold Trust contracted before a European Central Bank meeting.
Meanwhile, gold in Singapore dropped 0.01% to USD 1,292.80 an ounce.
At the Multi Commodity Exchange, gold for delivery in February fell by Rs 27, or 0.10%, to Rs 27,950 per 10 grams in a business turnover of 188 lots.
Similarly, the yellow metal for delivery in far-month April lost Rs 20, or 0.07%, to Rs 28,080 per 10 grams in 20 lots.
Market analysts said the fall in gold futures was mostly due to a weakening trend in the global market where gold traded below a five-month high as holdings in the SPDR Gold Trust contracted before a European Central Bank meeting.
Meanwhile, gold in Singapore dropped 0.01% to USD 1,292.80 an ounce.
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First Published: Jan 22 2015 | 11:18 AM IST