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  Business   Market  12 Apr 2018  Gold futures slide 0.24 per cent on global cues

Gold futures slide 0.24 per cent on global cues

PTI
Published : Apr 12, 2018, 10:46 am IST
Updated : Apr 12, 2018, 10:46 am IST

Gold is trading at Rs 31,280 per 10 grams as speculators reduced exposure amid a weak global trend.

Globally, gold prices fell 0.28 per cent to USD 1,349 an ounce in Singapore. (Photo: Pixabay)
 Globally, gold prices fell 0.28 per cent to USD 1,349 an ounce in Singapore. (Photo: Pixabay)

New Delhi: Gold prices drifted lower by 0.24 per cent to Rs 31,280 per 10 grams in futures trading on Thursday as speculators reduced exposure amid a weak global trend.

At the Multi Commodity Exchange, gold for delivery in June fell by Rs 75, or 0.24 per cent to Rs 31,280 per ten grams in business turnover of 336 lots.

Likewise, the yellow metal for delivery in August was trading lower by a similar margin to Rs 31,460 per ten grams in 1 lot.

Analysts said offloading of positions by participants in line with a weak trend overseas, as minutes from the Federal Reserves's last policy meeting raised expectations for a faster pace of US rate hikes, mainly influnced gold prices at futures trade.

Globally, gold prices fell 0.28 per cent to USD 1,349 an ounce in Singapore on Thursday. 

Tags: gold, gold price
Location: India, Delhi, New Delhi