Gold futures down 0.65% on weak global cues
NEW DELHI, Aug 4:  Gold futures prices today fell by 0.65 per cent to Rs 24,600 per 10 grams as speculators offloaded their positions, tracking a weak global trend.
Gold for delivery in August fell by Rs 161, or 0.65 per cent to Rs 24,600 per ten gram at the Multi Commodity Exchange, gold prices for delivery in a business volume of 13 lots.
Similarly, metal prices for delivery in far-month October declined by Rs 152, or 0.61 per cent, to Rs 24,770 per ten grams in 575 lots.
Analysts said the fall in gold futures was mostly attributed to trimming of positions by speculators, tracking a weak trend overseas as the US interest-rate outlook buoyed the dollar, eroding appeal of the precious metal as an alternative investment.
Meanwhile, gold traded 0.10 per cent lower at USD 1,084.30 an ounce in Singapore today. (PTI)

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