Gold futures fall 0.35% on global cues

Monday, Oct 31, 2016,18:29 IST By metrovaartha A A A

New Delhi | Gold futures drifted lower by 0.35 per cent to Rs 29,896 per 10 gram in the evening session on Monday as speculators trimmed their positions, tracking a weak trend overseas.

The exchange remained closed for the morning session on account of “Diwali Balipratipada”.

At the Multi Commodity Exchange, gold for delivery in far month February 2017 declined by Rs 106, or 0.35 per cent, to Rs 29,896 per 10 gram, in a business turnover of 12 lots.

Similarly, the metal for delivery in December traded lower by Rs 90, or 0.30 per cent, to Rs 29,967 per 10 gram in 460 lots.

Analysts said trimming of positions by participants in tandem with a weak trend overseas mainly led to decline in gold prices at futures trade.

Meanwhile, gold fell 0.19 per cent to USD 1,272.30 an ounce in London on Monday.