Gold futures fall Rs 56 on weak global cues
Metal for delivery in August shed Rs 54 or 0.18%
 "Gold up 6.7% in Jan on renewed prospect as safe asset")
Gold fell Rs 56 to Rs 30,568 per 10 grams in futures trade today as participants reduced their positions, largely in line with a weak trend overseas.
Moreover, profit-booking at existing level also weighed on gold futures.
At Multi Commodity Exchange, gold for delivery in far-month October was trading lower by Rs 56 or 0.18% at Rs 30,568 per 10 grams in a business turnover of 30 lots.
Also, the metal for delivery in August shed Rs 54 or 0.18% to Rs 30,345 per 10 grams in 1,324 lots.
Analysts said besides a weak trend in the overseas markets, profit-booking by speculators at current levels, weighed on the precious metal in futures trade here.
Globally, gold fell 0.23% to $1,280.80 an ounce in Singapore.
Moreover, profit-booking at existing level also weighed on gold futures.
At Multi Commodity Exchange, gold for delivery in far-month October was trading lower by Rs 56 or 0.18% at Rs 30,568 per 10 grams in a business turnover of 30 lots.
Also, the metal for delivery in August shed Rs 54 or 0.18% to Rs 30,345 per 10 grams in 1,324 lots.
Analysts said besides a weak trend in the overseas markets, profit-booking by speculators at current levels, weighed on the precious metal in futures trade here.
Globally, gold fell 0.23% to $1,280.80 an ounce in Singapore.
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First Published: Jun 14 2016 | 11:28 AM IST