Gold futures weaken on subdued spot demand
Gold prices fell by Rs 77 to Rs 31,234 per 10 gram in futures trade Friday as speculators reduced exposure, despite a firm trend in the precious metal overseas.
At the Multi Commodity Exchange, gold for delivery in February 2019 traded lower by Rs 77, or 0.25 per cent, to Rs 31,234 per 10 gram in a business turnover of 12,585 lots.
The gold for delivery in April fell by Rs 44, or 0.14 per cent, to Rs 31,435 per 10 gram in 2,555 lots.
Marketmen said the fall in gold prices at futures trade was mostly due to trimming of positions by participants.
Globally, the gold was trading lower at USD 1,260.60 an ounce in Singapore.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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