Gold futures price down on weak global cues

Mar 10 2014, 19:24 IST
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Gold prices moved down by 0.18 per cent to Rs 30,075 per 10 gram in futures trade today after participants offloaded partial positions, taking weak cues from the global market. (AP) Gold prices moved down by 0.18 per cent to Rs 30,075 per 10 gram in futures trade today after participants offloaded partial positions, taking weak cues from the global market. (AP)
SummaryGold prices moved down by 0.18 per cent to Rs 30,075 per 10 gram in futures trade today after participants offloaded partial positions, taking weak cues from the global market.

Gold prices moved down by 0.18 per cent to Rs 30,075 per 10 gram 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 April declined by Rs 55, or 0.18 per cent, to Rs 30,075 per 10 gram in business turnover of 212 lots.

Likewise, the metal for delivery in June shed Rs 42, or 0.14 per cent, to Rs 29,400 per 10 gram in five lots.

Market analysts said a weak trend in the overseas markets as US jobs data backed the case for the Federal Reserve to keep on reducing stimulus mainly put pressure on gold prices at futures trade here.

Globally, gold fell 0.9 per cent to USD 1,327.94 an ounce in Singapore today.

Amid a weak trend in global markets, silver prices fell by 0.48 per cent to Rs 45,785 per kg in futures trade today, as speculators trimmed their positions.

At the Multi Commodity Exchange, silver for delivery in May fell by Rs 420, or 0.91 per cent, to Rs 45,785 per kg in business turnover of 814 lots.

Also, the white metal for delivery in far-month July delivery contracts declined by Rs 405, or 0.86 per cent, to Rs 46,732 per kg in business volume of 18 lots.

Market analysts said a subdued trend in the global markets as US jobs data backed the case for the Federal Reserve to keep on reducing stimulus, mainly weighed on silver futures here.

In the international market, silver fell as much as 1.6 per cent to USD 20.61 an ounce, the lowest since February 14, in Singapore.

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