Gold futures slide 0.31 per cent on weak overseas cues

Gold futures slide 0.31 per cent on weak overseas cues
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New Delhi: Gold prices fell by 0.31 per cent to Rs 30,437 per 10 grams in futures market on Wednesday as speculators trimmed positions, taking weak cues from overseas markets.

At the Multi Commodity Exchange, gold for delivery in April declined Rs 95, or 0.31 per cent, to Rs 30,437 per ten grams in a business turnover of 399 lots.

On similar lines, the yellow metal for delivery in far-month June was trading lower by Rs 91, or 0.30 per cent, to Rs 30,590 per ten grams in 26 lots.

An analyst said cutting down of positions by participants in tendem with a weak trend overseas as the dollar remained strong, while investors awaited the minutes of the US Federal Reserve’s last policy meeting, kept gold prices down at futures trade.

Gold prices fell 0.17 per cent to USD 1,326.50 an ounce in Singapore on Wednesday.

PTI