Gold futures fall 0.20% on weak global cues

Taking weak cues from global markets, gold prices fell by 0.20 per cent in futures trade on Thursday as speculators engaged in reducing their holdings.

In futures trading at the Multi Commodity Exchange, gold for delivery in far-month April was trading lower by Rs 63, or 0.20 per cent, to Rs 32,185 per ten grams in a business turnover of 105 lots.

In a similar fashion, the February contract of gold fell by Rs 50, or 0.16 per cent, to Rs 32,090 per 10 grams in a business volume of 668 lots.

Analysts said offloading of positions by participants, tracking a weak trend overseas, led to the fall in gold prices at futures trade here.

Gold prices fell 0.09 per cent to $1,282.10 an ounce in New York.

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Source: Moneycontrol