Gold futures slide on weak global cues

Tuesday, Jul 5, 2016,11:31 IST By metrovaartha A A A

New Delhi | Gold futures fell by 0.39 per cent to Rs 32,005 per 10 gram Tuesday as participants cut down their bets to book profits amid a weak global trend.

At the Multi Commodity Exchange, gold for delivery in far-month October shed Rs 125, or 0.39 per cent, to Rs 32,005 per 10 gram, in a business turnover of 21 lots. Also, the metal for delivery in August declined by Rs 110, or 0.35 per cent, to Rs 31,673 per 10 gram in 346 lots.

Market analysts attributed the fall in prices to weak trend overseas where dollar dropped after a four-day rising trend as the recovery in dollar diminished its demand as a safe haven.

Meanwhile, gold traded 0.5 per cent lower at USD 1,344 an ounce in Singapore.

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