Gold futures fall Rs 22 on weak global cues, subdued demand

Tuesday, Aug 9, 2016,12:02 IST By metrovaartha A A A

New Delhi | Amid a weakening global trend, gold futures fell Rs 22 to Rs 31,154 per 10 gm Tuesday as participants trimmed their positions.

In futures trading, gold for delivery in October contracts was trading Rs 22 or 0.07 per cent lower at Rs 31,154 per 10 gm in a business turnover of 211 lots at the Multi Commodity Exchange.

Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas as signs of US economic resilience boosted world equities and the dollar, reducing demand for the precious metal as a haven.

Meanwhile, gold prices in global market retreated as much as 0.09 per cent to USD 1,333.80 an ounce in Singapore Tuesday.