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Gold futures weakens on global trend


New Delhi:  Gold futures prices today fell by 0.21 per cent to Rs 25,729 per 10 grams as participants engaged in trimming positions amid weak global cues.

Besides, subdued demand at domestic spot markets, too, weighed on the prices.

At the Multi Commodity Exchange, gold for delivery in April, fell by Rs 54, or 0.21 per cent, to trade at Rs 25,729 per 10 grams in a turnover of 323 lots.

Similarly, the metal for delivery in June shed Rs 55, or 0.20 per cent, to Rs 25,854 per 10 gm in 20 lots.

Globally, gold traded lower at USD 1,154.48 an ounce from USD 1,154.81 in Singapore yesterday.

Analysts said off-loading of positions by speculators on sluggish spot demand and a weak trend overseas as investors weighed the outlook for higher US interest rates before the Federal Reserve begins a two-day meeting, mainly put pressure on gold prices in futures trade here.

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