Gold futures decline by 0.14% on global cues

Friday, Apr 22, 2016,17:27 IST By Metrovaartha A A A

New Delhi | Gold prices fell by 0.14 per cent to Rs 29,547 per 10 ten grams in futures trade as traders trimmed positions, tracking a weak global trend. At the Multi Commodity Exchange, gold for delivery in far-month August declined by Rs 41, or 0.14 per cent to Rs 29,547 per ten grams in a business turnover of 52 lots.

Similarly, the yellow metal for delivery in June traded lower by Rs 37, or 0.13 per cent to Rs 29,320 per ten grams in 1,971 lots.

Analysts attributed the fall in gold futures to a weak global trend where it slipped from a five-week high after a gauge of US unemployment tumbled to the lowest since 1973, damping the metal’s appeal as a safe haven, weighed on gold prices at futures trade here. Globally, gold eased by 0.17 per cent to USD 1,245.90 an ounce in Singapore.

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