Gold Futures down by 0.15 % on weak Global Cues

Gold prices eased by 0.15 per cent to Rs. 27,803 per 10 grams in Wednesday’s futures trade as participants offloaded positions on weak cues from global markets.

At the Multi Commodity Exchange (MCX), gold for delivery in October declined by Rs. 42, or 0.15 per cent, to Rs. 27,803 per 10 grams in a business turnover of 1,832 lots.

Likewise, the metal for delivery in August dropped by Rs. 22, or 0.08 per cent, to Rs. 27,724 per 10 grams in 1,832 lots.

A weak trend in the overseas markets on signs that the recent rally in precious metal has hurt demand put pressure on gold prices at futures trade here, market analysts said.

Globally, gold fell 0.07 per cent to $1,325.20 an ounce in early trade in Singapore on Wednesday.