 "Gold down 0.7% on global cues")
Gold prices moved down by 0.70% to Rs 28,700 per 10 grams in futures trade today after participants off-loaded positions, taking weak cues from the global market.
At the Multi Commodity Exchange, gold for delivery in April declined by Rs 203, or 0.70%, to Rs 28,700 per 10 grams in business turnover of 452 lots.
Likewise, the metal for delivery in February shed Rs 133, or 0.48%, to Rs 29,378 per 10 grams in 1,672 lots.
Globally, gold lost 0.6% to $1,248.90 an ounce in Singapore.
At the Multi Commodity Exchange, gold for delivery in April declined by Rs 203, or 0.70%, to Rs 28,700 per 10 grams in business turnover of 452 lots.
Likewise, the metal for delivery in February shed Rs 133, or 0.48%, to Rs 29,378 per 10 grams in 1,672 lots.
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Market analysts said a weak trend in the overseas markets amid expectations that stimulus will be cut further as the US Federal Reserve decides on monetary policy, mainly put pressure on the gold prices at futures trade here.
Globally, gold lost 0.6% to $1,248.90 an ounce in Singapore.