March 1, 2013

Gold futures down on global cues

Gold futures down on global cues - The Times of India

Gold futures down on global cues

Gold prices moved down by 0.18 per cent to Rs 30,060 per 10 gm in futures trade today after participants off-loaded partial positions, taking weak cues from the global market.

At the Multi Commodity Exchange, gold for delivery in far-month June contracts declined by Rs 53, or 0.18 per cent, to Rs 30,060 per 10 gm in business turnover of 186 lots.

Likewise, the metal for delivery in April shed Rs 35, or 0.12 per cent, to Rs 29,535 per 10 gm in 3,159 lots.

Market analysts said a weak trend in the overseas markets as signs of economic optimism curbed demand for the metal as a haven, mainly put pressure on the gold prices at futures trade here.

Globally, gold fell 1.1 per cent to USD 1,578.30 an ounce in New York in yesterday's trade.

Source : The Times of India

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