Gold futures fall Rs 37 on weak global cues, muted demand

Friday, Nov 27, 2015,11:58 IST By metrovaartha A A A

New Delhi | Amid a weakening global trend, gold futures were down by Rs 37 to Rs 25,244 per 10 gram Friday as participants trimmed their positions. In futures trading, gold for delivery in December traded Rs 37, or 0.15 per cent lower at Rs 25,244 per 10 gram in a business turnover of 350 lots at the Multi Commodity Exchange.

On similar lines, the metal for delivery in far-month February next year shed Rs 33, or 0.13 per cent, to Rs 25,390 per 10 gram in 32 lots. Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas as expectations for an increase in US borrowing costs by the end of the year buoyed the dollar, curbing the metal’s appeal.

Meanwhile, gold prices in global market retreated as much as 0.4 per cent to USD 1,068.36 an ounce in Singapore today.