Gold futures fall on weak domestic cues

New Delhi-India (July 24)  Gold prices fell by Rs 29 to Rs 34,992 per 10 gram in futures trade on July 24 as speculators reduced exposure in tandem with a muted trend in the precious metal overseas.

On the Multi Commodity Exchange, gold for delivery in August contracts traded lower by Rs 29, or 0.08 per cent, to Rs 34,992 per 10 gram in a business turnover of 14,649 lots.

The gold for delivery in October contracts also fell by Rs 31, or 0.09 per cent, to Rs 35,532 per 10 gram in 15,440 lots.

Analysts said the fall in gold prices at futures trade was mostly due to trimming of positions by participants.

Gold prices was trading flat at USD 1,421.70 an ounce in New York.

MoneyControl