Gold futures fall 0.95% on weak global cues

NEW DELHI, Nov 7:  Gold prices fell by 0.95 per cent to Rs 25,220 per 10 grams in futures trading today as speculators trimmed positions in tandem with a weak global trend as a strengthening dollar curbed demand for the precious metal.
At the Multi Commodity Exchange, gold for delivery in December fell by Rs 241, or 0.95 per cent, to Rs 25,220 per 10 grams in a business turnover of 3,400 lots.
Similarly, the metal for delivery in February next year declined by Rs 238, or 0.93 per cent, to Rs 25,415 per 10 grams in 110 lots.
Analysts said offloading of positions by speculators in line with a weak global trend where gold held at over four-year lows as surge in dollar curbed demand, mainly kept pressure on gold prices at futures trade.
Besides, a weak trend at the domestic spot markets also weighed on prices, they said.
At Chennai, gold prices were down by Rs 110 to Rs 25,800 per 10 grams in opening trade today.
Meanwhile, the metal traded at USD 1,141.51 in Singapore, the lowest level since April 2010. (PTI)


Please enter your comment!
Please enter your name here