Gold futures shed 0.83% on weak global cues

NEW DELHI, May 28: Amid a weakening global trend and profit-booking by speculators, gold prices fell by 0.83 per cent to Rs 30,931 per 10 grams in futures trade today.
At the Multi Commodity Exchange, gold for delivery in June declined by Rs 258, or 0.83 per cent, to Rs 30,931 per 10 grams, in a business turnover of 481 lots.
Similarly, the yellow metal for delivery in August was down by Rs 257, or 0.82 per cent, to Rs 31,215 per 10 grams in 197 lots.
Analysts said besides subdued global trend on easing geopolitical concerns as the US President Donald Trump revived hopes of his summit with North Korean leader Kim Jong-un, after cancelling the meeting last week, led to the fall in gold prices at futures trade.
Globally, gold fell 0.29 per cent to USD 1,297.40 an ounce in Singapore. (PTI)