Gold futures slide 0.16% on global cues

Gold prices fell by 0.16 per cent

to Rs 30,864 per 10 grams 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 October fell by Rs 50, or 0.16 per cent, to Rs 30,864 per ten grams in business turnover of five lots.

Similarly, the metal for delivery in August traded lower by Rs 43, or 0.14 per cent to Rs 30,573 per ten grams in 109 lots.

Market analysts said off-loading of positions by participants amid a weak trend overseas, mainly led to the fall in gold prices at futures trade.

 

Globally, gold fell 0.06 per cent to USD 1,266.90 an ounce in Singapore.