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Gold futures down on weak global cues

PTI | Last Updated: Monday, June 2, 2014 - 13:34

New Delhi: Gold prices fell 0.20 percent to Rs 25,829 per 10 gram in futures trade on Monday as investors reduced positions in line with a weak trend in overseas markets amidst subdued demand in domestic spot markets.

At the Multi Commodity Exchange, gold for delivery in August eased by Rs 52, or 0.20 percent to Rs 25,829 per 10 gram in business turnover of 149 lots.

Likewise, the metal for delivery in June shed Rs 38, or 0.14 percent to Rs 26,825 per 10 gram in 33 lots.

Market analysts said there is a weakening trend in the overseas markets as hedge funds pared bets on a rally in the metal as demand for a safe haven declined and put pressure on gold prices at futures trade here.

Globally, gold fell 0.30 percent to USD 1,246.50 an ounce in Singapore.

First Published: Monday, June 2, 2014 - 13:34
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