Financials News

Gold futures remain weak on global cues

Gold futures remain weak on global cues
Representational Photo

New Delhi: Gold prices eased 0.08 per cent further to Rs 29,197 per 10 grams in futures trade today as participants trimmed positions, tracking a weak trend overseas.

At Multi Commodity Exchange, prices for delivery in April edged lower by Rs 22, or 0.08 per cent, to Rs 29,197 per 10 grams in a business turnover of 64 lots.

Likewise, the yellow metal for delivery in February contracts shed Rs 7, or 0.02 per cent, to Rs 29,254 per 10 grams in 544 lots.

Analysts said offloading of positions by traders in tandem with a weak trend overseas as the dollar held steady amid expectations of more US interest rate hikes this year weighed on prices.

Meanwhile, gold inched lower by 0.07 per cent to USD 1,318.80 an ounce in Singapore.

PTI