Gold futures down 0.36 pc on global cues

Gold futures down 0.36 pc on global cues

Gold futures prices today fell by 0.36 per cent to Rs 26,344 per 10 grams as speculators offloaded their positions in tandem with a weak global trend.

At the Multi Commodity Exchange, gold prices for delivery in August fell by Rs 94, or 0.36 per cent, to Rs 26,344 per 10 grams in business turnover of 542 lots.

Similarly, metal prices for delivery in October declined by Rs 87, or 0.33 per cent, to Rs 26,482 per 10 grams in 27 lots.

Market analysts said the fall in gold futures was mostly attributed to a weak trend overseas as investors weighed the Federal Reserve's next move on stimulus amid concern gains last week may deter physical purchases.

Meanwhile, gold prices fell 0.2 per cent to USD 1,281.60 an ounce in Singapore.

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