IE:Gold price weakens in futures trade on global cues
Amid a weakening trend overseas, gold prices fell marginally by Rs 77 to Rs 29,212 per 10 grams in futures trade today as speculators trimmed positions.
Sentiment turned weak after gold declined for the third in global markets after Federal Reserve Chairman Ben S Bernanke provided no specific plans for boosting growth in the US, analysts said.
At the Multi Commodity Exchange, gold for delivery in August traded marginally lower by Rs 77, or 0.26 per cent, to Rs 29,212 per 10 grams, with a business turnover of 3,358 lots.
Similarly, the metal for delivery in October shed Rs 71, or 0.24 per cent, to Rs 29,568 per 10 grams, with a turnover of 248 lots.
Globally, gold for lost as much as 0.3 per cent to USD 1,578.53 an ounce in early trade in Singapore today.
