Gold futures decline 0.15% on global cues

Friday, May 27, 2016,11:12 IST By metrovaartha A A A

New Delhi | Amid a weak global trend, gold prices drifted lower by 0.15 per cent to Rs 28,695 per ten grams in futures trade Friday as participants cut their bets. At the Multi Commodity Exchange, gold for delivery in June fell by Rs 43, or 0.15 per cent, to Rs 28,695 per ten grams in a business turnover of 772 lots. Likewise, the yellow metal for delivery in far-month August contracts traded lower by Rs 36, or 0.12 per cent, to Rs 28,952 per ten grams in 137 lots.

Analysts said the weakness in gold futures was mostly in tune with a subdued trend overseas as investors anticipate higher borrowing costs in the US.

Meanwhile, gold fell 0.13 per cent to USD 1,217.90 an ounce in Singapore.