Gold falls Rs 91 in futures trade as weak global cues hurt

Wednesday, Mar 2, 2016,11:45 IST By metrovaartha A A A

New Delhi | Gold prices fell Rs 91 to Rs 29,135 per 10 grams in futures trade today as participants trimmed their positions, largely in line with a weak trend overseas.

At Multi Commodity Exchange, gold for delivery in April was trading lower by Rs 91, or 0.31 per cent, at Rs 29,135 per 10 grams, in a business turnover of 474 lots. Also, the metal for delivery in June shed Rs 89, or 0.30 per cent, to Rs 29,379 per 10 grams in 15 lots.

Analysts said there is a weakening trend in the overseas markets where gold retreated as stocks advanced, easing demand for safe-haven assets, which weighed on the precious metal in futures trade. Globally, gold fell 0.4 per cent to USD 1,226.89 an ounce in Singapore.

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