Gold futures down 0.38 on weak global cues

MUMBAI-INDIA (Oct 15)   Gold prices fell 0.38% to Rs 28,396 per 10 gm in futures trade on Tuesday as participants indulged in reducing positions. At the Multi Commodity Exchange, gold for delivery in far-month February, 2014 eased by Rs 108, or 0.38%, to Rs 28,396 per 10 gm in business turnover of 17 lots. Likewise, the metal for delivery in December shed Rs 67, or 0.23%, to Rs 28,720 per 10 gm in 569 lots.

India is the world's largest consumer of gold.