Gold futures slide 0.09% on global cues

Gold prices fell by 0.09 per cent to Rs 30,528 per 10 gram in futures trade today as speculators

trimmed their positions, tracking a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in far-month August declined by Rs 26 or 0.09 per cent to Rs 30,528 per ten grams in business turnover of 181 lots.

Analysts said off-loading of positions by participants amid a weak trend overseas as the dollar firmed amid easing risk aversion and expectations of further interest rate hikes by the US Federal Reserve, eroded demand for the precious metal as a safe-haven, weighed on gold prices at futures trade here.

 

Globally, gold fell 0.32 per cent to USD 1,254.16 an ounce, its lowest since mid-December last year in Singapore.