Gold futures prices down on global cues

Gold prices moved down by 0.67 per cent to Rs 26,133 per 10 gm in futures trade today.

Written by PTI | New Delhi | Published: May 16, 2013 11:16:37 am

Gold prices moved down by 0.67 per cent to Rs 26,133 per 10 gm in futures trade today after participants reduced positions,taking weak cues from the global market.

At the Multi Commodity Exchange,gold for delivery in June eased by Rs 177,or 0.67 per cent,to Rs 26,133 per 10 gm after dipping to Rs 26,102 in business turnover of 2,426 lots.

Likewise,the metal for delivery in far-month August fell Rs 175,or 0.66 per cent,to Rs 26,267 per 10 gm after dropping to Rs 26,236 in 174 lots.

Market analysts said a weak trend in the overseas markets on signs that investment demand is waning as US equities rally to records and dollar strengthening,mainly put pressure on gold futures here.

Besides,a subdued trend on the domestic spot markets due to slackened demand weighed on prices,they said.

Globally,gold fell 0.4 per cent to USD 1,387.30 an ounce,its lowest since April 19 in Singapore today.

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