Small BusinessGold futures fall on weak global cues
Gold futures prices fell by Rs 83 or 0.49 per cent at the Multi Commodity Exchange today as traders reduced their positions.
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Gold for far-month April contract fell by Rs 83 or 0.49 per cent to Rs 16,972 per ten gram with an open interest of 2,574 lots.
The metal for delivery in February contract also declined by Rs 70 or 0.41 per cent to Rs 16,955 per ten gram in 16,901 lots.
Marketmen said traders indulged in reducing their positions in line with a weakening global trend mainly led to fall in gold prices at futures market.
Meanwhile, gold lost $9.10 to $1,117.60 an ounce in London.