Gold futures remain weak, shed 0.09% on weak global cues

Amid a weakening global trend, gold prices fell further by 0.09 per cent to Rs 28,775 per 10 grams in futures trading today as speculators engaged in trimming their positions.

At the Multi Commodity Exchange, gold for delivery in April declined by Rs 25, or 0.09 per cent, to Rs 28,775 per 10 grams, in a business turnover of 499 lots.

On similar lines, the yellow metal for delivery in far-month June traded lower by Rs 26, or 0.09 per cent, to Rs 28,925 per 10 grams in 30 lots.

Market analysts said the slide in gold futures was mostly in tune with a weak trend overseas.
 

Meanwhile, gold prices fell 0.16 per cent to USD 1,242.60 an ounce in Singapore.