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Gold futures prices down 0.71 pct on global cues

Gold for delivery in December declined by Rs 211,or 0.71 per cent,to Rs 29,637 per 10 grams.

Written by PTI | New Delhi |
November 25, 2013 11:58:03 am

Gold prices moved down by 0.71 per cent to Rs 29,637 per 10 grams in futures trade today after participants offloaded partial positions,taking weak cues from the global market.

At the Multi Commodity Exchange,gold for delivery in December declined by Rs 211,or 0.71 per cent,to Rs 29,637 per 10 grams in business turnover of 329 lots.

Likewise,the metal for delivery in February next year shed Rs 131,or 0.62 per cent,to Rs 29,025 per 10 grams in 36 lots.

Market analysts said a weak trend in the overseas markets as the accord between Iran and world powers damped demand for haven assets,while holdings in exchange-traded products extended declines,mainly weighed on gold prices at futures trade here.

Globally,gold fell 0.5 per cent to trade at nearly four-month low of USD 1,237.45 an ounce in Singapore.

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