Gold futures open lower at Rs 27,040

Gold futures on the Multi Commodity Exchange opened lower at Rs 27,040 per 10 grams on Tuesday against the previous close of Rs 27,096.

The yellow metal made a high of Rs 27,049 and low of Rs 26,880. It was trading down by per cent at Rs 26,889 at 1.43 p.m.

New Delhi: Gold prices moved down by 0.34 per cent to Rs 27,323 per 10 gm at the 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 August eased by Rs 92 or 0.34 per cent to Rs 27,323 per 10 gm in a business turnover of 19 lots.

Likewise, the metal for delivery in June shed Rs 87 or 0.32 per cent to Rs 27,009 per 10 gm in 639 lots.

Market analysts said a weak trend in the overseas market on signs that physical purchases may slowdown after prices climbed to the highest since April 15, mainly put pressure on gold futures here.

Globally, the yellow metal fell 0.7 per cent to $1,459.60 an ounce in Singapore today.