Gold falls by 0.3% on weak global cues
The strengthening dollar also weighed on gold prices
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Gold was down Rs 68 to Rs 25,955 per 10 grams in futures trade today amid a weak global trend.
At Multi Commodity Exchange, delivery in October contract of gold fell by Rs 68, or 0.26%, to Rs 25,955 per 10 grams in a business turnover of 20 lots.
Also, the precious metal for delivery in August fell by Rs 56, or 0.22%, to Rs 25,715 per 10 grams, clocking a business turnover of 529 lots.
Analysts attributed the fall in gold futures to a weak global trend after Federal Reserve reiterated that the US interest rates will probably rise this year, eroding demand for the precious metals as a safe haven.
Besides, strengthening dollar weighed on the gold prices, they said.
Globally, gold traded at $1,144.96 an ounce in Singapore, its lowest level since November last year.
At Multi Commodity Exchange, delivery in October contract of gold fell by Rs 68, or 0.26%, to Rs 25,955 per 10 grams in a business turnover of 20 lots.
Also, the precious metal for delivery in August fell by Rs 56, or 0.22%, to Rs 25,715 per 10 grams, clocking a business turnover of 529 lots.
Analysts attributed the fall in gold futures to a weak global trend after Federal Reserve reiterated that the US interest rates will probably rise this year, eroding demand for the precious metals as a safe haven.
Besides, strengthening dollar weighed on the gold prices, they said.
Globally, gold traded at $1,144.96 an ounce in Singapore, its lowest level since November last year.
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First Published: Jul 17 2015 | 12:28 PM IST