Gold futures drop by Rs 186 on weak global cues

Gold is trading at Rs 27,262 per 10 grams on Tuesday

New Delhi: Amid a weakening global trend, gold futures traded lower by Rs 186 at Rs 27,262 per 10 gm on Tuesday as speculators trimmed their positions. Gold for delivery in October dropped Rs 186 or 0.68 per cent to Rs 27,262 per 10 gm in a business turnover of 277 lots at the Multi Commodity Exchange. In a similar fashion, the metal for delivery in far-month December was trading down Rs 187, or 0.68 per cent to Rs 27,667 per 10 gm in one lot.

Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas and profit-booking by speculators at prevailing levels. Meanwhile, gold prices fell 0.47 per cent to USD 1,154.90 an ounce in New York yesterday.

( Source : PTI )
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