Gold futures soften by 0.19% on global cues

NEW DELHI, June 28: Gold prices edged lower by 0.19 per cent to Rs 30,636 per 10 grams in futures trade today as participants cut their bets amid a weakening global trend.

At the Multi Commodity Exchange, gold for delivery in  August fell Rs 59, or 0.19 per cent, to Rs 30,636 per ten gram in business turnover of 532 lots.

Likewise, the yellow metal for delivery in October contract shed Rs 49, or 0.16 per cent, to Rs 30,924 per ten gram in 3 lots.

Market analysts said offloading of positions by traders in line with a weak trend overseas, weighed on gold prices at futures trade.

Globally, gold fell 0.56 per cent to USD 1251.60 an ounce in New York in yesterday’s trade. (PTI)