Gold futures fall Rs 84 on weak global cues

Wednesday, Jul 27, 2016,12:03 IST By metrovaartha A A A

New Delhi | Amid a weakening global trend, gold futures fell Rs 84 to Rs 31,140 per 10 gm Wednesday as participants trimmed their positions. In futures trade, gold for delivery in October contracts was trading Rs 84 or 0.27 per cent lower at Rs 31,140 per 10 gms in a business turnover of 99 lots at the Multi Commodity Exchange.

On similar lines, the metal for delivery in August shed Rs 78 or 0.25 per cent to Rs 30,834 per 10 gm in 612 lots.

Market analysts said the fall in gold futures was mostly in step with a weak trend overseas before a US Federal Reserve meeting that may shed light on the timing of interest-rate increases, and as investors considered the outlook for stimulus in Japan.

Meanwhile, gold prices in global market fell as much as 0.30 per cent to USD 1,315.93 an ounce in Singapore today as the dollar climbed.