Gold futures slide on weak global cues

Mumbai-India (Oct 1)  Gold prices fell 0.20 percent to Rs 25,804 per 10 grams in futures trade today as participants cut their bets amid a weak global trend.

At the Multi Commodity Exchange, gold prices for delivery in October fell by Rs 52, or 0.20 percent, to Rs 25,804 per 10 grams in a business turnover of 43 lots.

Also, the metal for delivery in far-month December declined by Rs 38, or 0.15 percent, to Rs 26,045 per 10 grams in 294 lots.

Analysts attributed the fall in prices to weak trend overseas where the precious metal declined as investors weighed the prospects for an interest rate rise in the US.

Meanwhile, gold was trading 0.07 percent down at USD 1,114.50 an ounce in Singapore.

Souce: MoneyControl