Gold prices fall on weak global cues

Gold futures fall on weak global cues



NEW DELHI: Gold prices fell marginally by 0.26 per cent to Rs 27,010 per ten grams in futures trade today as speculators trimmed their positions, taking weak cues from the global markets.

At the Multi Commodity Exchange, gold for delivery in August contracts shed Rs 71, or 0.26 per cent, to Rs 27,010 per ten grams in business turnover of 293 lots.

In a similar fashion, the metal for delivery in far-month October fell by Rs 58, or 0.20 per cent, to Rs 27,254 per ten grams in four lots.

Analysts said the fall in the yellow metal's prices at futures trade was mostly in tandem with a weak trend overseas before an emergency European summit on Greece's debt crisis.

Globally, gold eased to USD 1,199.03 an ounce in Singapore from USD 1,200.27 on Friday.