Gold futures down on weak global cues
New Delhi: Amid a weak trend overseas and subdued demand at domestic spot market, gold prices fell 0.30 per cent to Rs 26,925 per 10 grams in futures trade on October 20. At the Multi Commodity Exchange, gold for delivery in December eased Rs 81, or 0.30 per cent, to Rs 26,925 per 10 gram in a business turnover of 194 lots.
Likewise, the metal for delivery in far-month February 2016 contract was trading down by Rs 75, or 0.28 per cent, to Rs 27,140 per 10 gram in four lots. Analysts said a weak trend in the overseas markets where gold fell for the third straight day on rekindled hopes that the US Fed may raise rates sooner than later after data pointed to strength in the US economy weighed on the precious metal prices in futures trade here. Globally, gold traded 0.3 per cent down at USD 1,167.49 an ounce in Singapore.