Gold futures down on weak global cues
New Delhi: Gold prices fell 0.46 percent to Rs 27,955 per 10 gm in futures trade today as participants reduced their positions largely in tandem with a weak trend overseas where precious metal dropped to over two-week low.
At the Multi Commodity Exchange, gold for delivery in far-month October contracts eased by Rs 130, or 0.46 percent, to Rs 27,955 per 10 gm in business turnover of 189 lots.
Likewise, the metal for delivery in August shed Rs 117, or 0.42 percent, to Rs 27,775 per 10 gm in 2,578 lots.
Market analysts said a weakening trend in the overseas markets on speculation central banks including the US Federal Reserve will refrain from adding more stimulus to bolster global growth, mainly weighed on the gold prices at futures trade here.
Globally, gold fell USD 2.80, or 0.20 percent, to USD 1,375.40 an ounce in Singapore today.