Gold falls 0.61% on weak global cues

Snapping a three day rising streak, gold prices fell by 0.61 per cent on the Multi Commodity Exchange (MCX) today on fresh selling by speculators influenced by weak trend in the Asian region.     

At 1240 hrs, gold for the most active October contract fell by 0.61 per cent to Rs 14,586 per ten gram with an open interest of 1,398 lots.     

Similarly, gold for delivery in August contract dropped by 0.42 per cent to Rs 14,581 per ten gram with an open interest of 13,598 lots.     

Marketmen said fresh selling by speculators influenced by weak trend in its prices in the Asian region mainly led to fall in gold prices at futures market here.     

Meanwhile, gold traded lower at $937.00 an ounce in Asian region against its last close $944.50.