BS:Gold futures marginally down on weak global cues
Gold prices moved down by 0.10% to Rs 29,851 per 10 grams in futures trade today as speculators trimmed positions amid a weak trend in the global markets.
At the Multi Commodity Exchange, gold for delivery in April eased by Rs 31, or 0.10%, to Rs 29,851 per 10 grams in business turnover of 422 lots.
Likewise, the metal for delivery in far-month June shed Rs 20, or 0.07%, to Rs 29,348 per 10 grams in four lots.
Market analysts said a weak trend in the overseas markets on speculation that a rally to the highest level in more than three months is curbing physical demand in Asia and as the US Federal Reserve indicated that it will press on with cuts to stimulus, mainly weighed on the gold prices at futures trade here.
Globally, gold fell 0.5% to $1,316.52 an ounce in Singapore today.
