Gold down by 0.4% in futures trade on weak global cues

Gold prices fell Rs 93 to Rs 25,152 per 10 grams in futures trade today as participants trimmed positions, largely in tune with a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in far-month February was trading lower by Rs 93, or 0.37%, at Rs 25,152 per 10 grams in a business turnover of 56 lots.

Also, the metal for delivery in December month shed Rs 83, or 0.33%, to Rs 24,976 per 10 grams in 150 lots.

Analysts said a weakening trend in the overseas markets where gold fell to over five-year low as the Federal Reserve expected to raise interest rates next month, helped boosting the dollar, curbing demand for the precious metals as an alternative, weighed on gold prices at futures trade here.
 
Globally, gold fell 0.1% to USD 1,056 an ounce in Singapore after dropping on Friday to $1,052.83, the lowest level since February 2010.