Gold futures weaken by 0.09% on global cues

PTI Updated - March 13, 2018 at 02:41 PM.

An employee holds out a one kilo, 999.9 fine, gold bar at the Baird & Co. Ltd. precious metals refinery in London, U.K., on Wednesday, Aug. 3, 2016. Baird & Co., which buys much of the U.K.'s scrap gold from collectors and pawn shops, is planning a 50 percent expansion at its 20-ton-a-year refining plant, which is near the London 2012 Olympic village. Photographer: Simon Dawson/Bloomberg

Taking weak cues from overseas markets, gold prices edged lower by 0.09 per cent to Rs 30,455 per 10 grams in futures trade today after participants cut positions.

At the Multi Commodity Exchange, gold for delivery in far-month June was trading lower by Rs 28, or 0.09 per cent to Rs 30,455 per ten grams in business turnover of 16 lots.

Likewise, the yellow metal for delivery in April contracts shed Rs 12, or 0.04 per cent to Rs 30,320 per ten grams in 549 lots.

Analysts said offloading of positions by traders, driven by a weak trend overseas influenced gold prices in futures trade.

Meanwhile, Gold prices fell 0.24 per cent to USD 1,319.40 an ounce in Singapore today.

Published on March 13, 2018 08:37