Gold futures fall Rs 148 on weak global cues

Tuesday, Sep 27, 2016,13:19 IST By metrovaartha A A A

New Delhi | Amid a weakening global trend, gold futures Tuesday traded lower by Rs 148 at Rs 31,180 per 10 gram as speculators trimmed their positions.

Gold for delivery in October dropped Rs 148 or 0.47 per cent to Rs 31,180 per 10 gram in a business turnover of 1,034 lots at the Multi Commodity Exchange.

Similarly, the metal for delivery in far-month December was trading down Rs 141, or 0.45 per cent, to Rs 31,310 per 10 gram in 176 lots.

The fall in gold futures was mostly in step with a weak trend overseas after its biggest weekly advance in two months, as the dollar erased losses, dimming the metal’s appeal as an alternative investment, analysts said.

Meanwhile, gold prices fell 0.21 per cent, to USD 1,334.70 an ounce in Singapore on Tuesday after a 2.1 per cent gain last week, the most since the period to July 29.

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