Gold futures fall Rs 94 on weak global cues
NEW DELHI: Gold futures fell Rs 94 to Rs 28,384 per 10 gm today as participants trimmed their positions after a decline in global prices of the precious metal.
The August contract of gold fell by Rs 94 or 0.33 per cent lower at Rs 28,384 per 10 gm in a business turnover of 368 lots at the Multi Commodity Exchange.
The far-month October contract of the metal too fell by Rs 80, or 0.28 per cent to Rs 28,631 per 10 gm in 88 lots Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas as equities gained and the markets awaited clues about monetary policy from the US Federal Reserve, which began its two-day meeting yesterday.
Gold prices retreated as much as 0.20 per cent to USD 1,247.10 an ounce in Singapore today.