Gold & Silver

Gold futures extend losses on global cues

PTI New Delhi | Updated on February 20, 2014 Published on February 20, 2014

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Gold prices moved down further by 0.47 per cent to Rs 29,890 per 10 grams at the futures trade today, as participants indulged in offloading of positions due to weak cues from the global market.

On the Multi Commodity Exchange, gold for delivery in April declined by Rs 141 or 0.47 per cent to Rs 29,890 per 10 grams in a business turnover of 524 lots.

Likewise, the metal for delivery in far-month June shed Rs 135 or 0.46 per cent to Rs 29,410 per 10 grams in 20 lots.

Market analysts said a weak trend in the overseas market on expectations that the Federal Reserve will continue to taper stimulus in the US, mainly put pressure on gold prices at the futures trade here.

Globally, gold traded a shade lower at $1,310.74 an ounce in Singapore today.

Published on February 20, 2014
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