ET:Gold remains down in futures trade on weak global cues
NEW DELHI: Gold prices moved down by 0.15 per cent to Rs 29,495 per 10 gm in futures trade today as participants indulged in trimming their positions, tracking a weak trend in the global market.
At the Multi Commodity Exchange, Gold for delivery in June eased by Rs 45, or 0.15 per cent, to Rs 29,495 per 10 gm in business turnover of 708 lots.
Likewise, the metal for delivery in August shed Rs 34, or 0.11 per cent, to Rs 29,968 per 10 gm in 26 lots.
Market analysts said a weak trend in the overseas markets as holdings in exchange-traded products declined and the dollar climbed, curbing demand for the metal as an alternative asset, mainly weighed on the gold prices at futures trade here.
Globally, gold traded a shade lower at USD 1,575.16 an ounce in Singapore today.
