Gold futures slide on weak global cues

Tuesday, Jun 21, 2016,11:29 IST By metrovaartha A A A

New Delhi | Gold futures fell by Rs 111 to Rs 30,584 per 10 grams Tuesday as participants cut bets amid a weak global trend. Besides, profit-booking by speculators weighed on gold prices.

At Multi Commodity Exchange, gold for delivery in August shed Rs 111 or 0.36 per cent to Rs 30,584 per 10 grams in a business turnover of 187 lots. Also, the metal for delivery in far-month October declined by Rs 104 or 0.34 per cent to Rs 30,838 per 10 grams in 4 lots. Market analysts attributed the fall in prices to weak trend overseas where gold fell for the third time in four days ahead of the UK referendum on whether to stay in the European Union due on Thursday.

Meanwhile, gold traded 0.4 per cent lower at USD 1,285.20 an ounce in Singapore.