Gold futures down 0.39% on weak global cues

New Delhi-India (Feb 26)  Gold prices moved down by 0.34 per cent to Rs. 30,137 per 10 gram in futures trade today after participants off-loaded partial positions, tracking a weak trend overseas as physical demand declined.

At the Multi Commodity Exchange, gold for delivery in April declined by Rs. 103, or 0.34 per cent, to Rs. 30,137 per 10 gram in business turnover of 1,205 lots.

Likewise, the metal for delivery in June shed Rs. 88, or 0.30 per cent, to Rs. 29,527 per 10 gram in 16 lots.

Market analysts said a weak trend in the overseas markets due to subdued physical demand at higher levels mainly put pressure on gold prices in futures trade here.

Globally, gold today fell to $1,338.70 an ounce from yesterday's $1,340.64 in Singapore.

Source: Finance-India