Gold futures down on weak global cues

Amid a weak trend overseas and profit-booking by speculators, gold prices fell 0.22 per cent to Rs 26,735 per 10 gm in futures trade on Friday.

At the Multi Commodity Exchange, gold for delivery in October eased by Rs 59 or 0.22 per cent to Rs 26,735 per 10 gm in business turnover of 84 lots.

Likewise, the metal for delivery in August shed Rs 51, or 0.19 per cent, to Rs 26,626 per 10 gm in 2,202 lots.

Analysts said besides a weak trend in the overseas markets, profit-booking by speculators put pressure on the gold prices at futures trade here.

Globally, gold fell $3.70 to $1,281.90 an ounce in Singapore today.


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