Gold futures remain weak on negative global cues

New Delhi-Indian (Mar 20)  Tracking a weak trend overseas, gold prices fell 0.27 per cent to Rs 30,335 per ten grams in futures trade on Tuesday as participants trimmed positions.

At the Multi Commodity Exchange, gold for delivery in April declined by Rs 83, or 0.27 per cent, to Rs 30,335 per ten grams in business turnover of 327 lots.

On similar lines, the yellow metal for delivery in June was trading lower Rs 82, or 0.27 per cent, to Rs 30,533 per ten grams in 20 lots.

Analysts said cutting down of positions by traders in line with a weak trend overseas as the dollar firmed, with focus shifting to the US Federal Reserve's policy meeting that kicks off later in the day, weighed on gold futures.

Globally, gold prices fell 0.11 per cent to USD 1,315.10 an ounce in Singapore on Tuesday.

TheAsianAge

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