Gold futures down on weak global cues

NEW DELHI: Gold futures prices today fell by Rs 49 to Rs 30,591 per 10 grams as speculators trimmed their positions in tandem with a weak global trend.

At the Multi Commodity Exchange, gold for delivery in April fell by Rs 49, or 0.16 per cent, to Rs 30,591 per 10 grams in business turnover of 5,861 lots.

Similarly, the metal for delivery in June moved down by Rs 37, or 0.12 per cent, to Rs 31,060 per 10 grams in 172 lots.

Market analysts speculators trimmed their positions in tandem with a weak global trend mainly led to fall in gold prices at futures trade.

Meanwhile, gold lost 0.3 per cent to USD 1,642.90 an ounce, the cheapest since January 4 in Singapore.