Gold futures down on weak global cues
Amid a weak trend overseas, gold prices fell 0.18 percent to Rs 27,917 per 10 gm in futures trade on Wednesday.
New Delhi: Amid a weak trend overseas, gold prices fell 0.18 percent to Rs 27,917 per 10 gm in futures trade on Wednesday.
At the Multi Commodity Exchange, gold for delivery in August eased by Rs 50, or 0.18 percent, to Rs 27,917 per 10 gm in business turnover of 390 lots.
Likewise, the metal for delivery in far-month October shed Rs 42, or 0.15 percent, to Rs 28,090 per 10 gm in 16 lots.
Analysts said a weak trend in the overseas markets, where gold dropped to over three-week low, as investors await the conclusion of the US Federal Reserve's policy meet, put pressure on the gold prices at futures trade here.
Globally, gold fell USD 2.43 to USD 1,365.22 an ounce in Singapore today.