Gold Futures Down on Weak Global Cues; Low Spot Demand

Published: 23rd January 2015 12:19 PM  |   Last Updated: 23rd January 2015 12:19 PM   |  A+A-


NEW DELHI:  Gold prices fell 0.20 per cent to Rs 28,109 per 10 gram in futures trade today as participants reduced their positions largely with a weak trend overseas amidst fall in demand from jewellers at domestic markets.

At the Multi Commodity Exchange, gold for delivery in far-month April contracts eased by Rs 56, or 0.20 per cent, to Rs 28,109 per 10 gram in business turnover of 21 lots.

Likewise, the metal for delivery in February shed Rs 51, or 0.18 per cent, to Rs 27,985  per 10 gram in 680 lots.

Market analysts said there is a weakening trend in the overseas markets and pressuring the gold prices in futures trade here.

Meanwhile, gold retreated from five-month highs by falling Rs 150 to Rs 28,350 per ten gram in the national capital in yesterday's trade.

Globally, gold fell by 0.41 per cent, to USD 1,296.80 an ounce in Singapore from USD 1,302.25  yesterday.

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