Gold futures down 0.14% on weak global cues

NEW DELHI: Gold futures prices moved down by 0.14 per cent to Rs 30,290 per 10 grams today, after participants off-loaded partial positions, taking weak cues from the global market as a rally in global stocks curbed demand for the metal as an alternative investment.

At the Multi Commodity Exchange, gold for delivery in December eased by Rs 42, or 0.14 per cent, to Rs 30,290 per 10 gm in business turnover of 117 lots.

Likewise, the metal for delivery in February next year shed Rs 37, or 0.12 per cent, to Rs 29,796 per 10 gm in five lots.

Market analysts said a weak trend in the overseas markets as a rally in global stock market curbed demand for the precious metal as an alternative investment, mainly weighed on the gold prices at futures trade here.

Globally, gold fell 0.3 per cent to $1,286.89 an ounce in Singapore today.