FE:Gold futures down to Rs 29,638 on weak global cues
GGold futures prices today fell by 0.92 per cent to Rs 29,638 per 10 grams as speculators offloaded their positions in tandem with a weak global trend.
At the Multi Commodity Exchange, gold prices for delivery in October fell Rs 274, or 0.92 per cent, to Rs 29,638, per 10 grams in business turnover of 1,658 lots.
On similar lines, metal prices for delivery in far-month December eased by Rs 217, or 0.73 per cent, to Rs 29,594 per ten grams in 225 lots.
Market analysts said the fall in gold futures was mostly attributed to a weak trend overseas as investors weighed the outlook for stimulus in the US after a Federal Reserve policy maker said a small taper may occur next month.
Meanwhile, gold prices fell 0.90 per cent to USD 1,313.69 an ounce in Singapore on Monday.
