Gold Futures Decline on Weak Demand - MCX
Gold prices fell on the MCX on Tuesday due to reduced speculator positions and weak global cues. The decline follows global gold trading lower in New York.
New Delhi, May 7 (PTI) Gold prices on Tuesday declined Rs 129 to Rs 71,240 per 10 grams in futures trade as speculators reduced their positions.
On the MCX, gold contracts for June delivery traded lower Rs 129 at Rs 71,240 per 10 grams in a business turnover of 17,169 lots.
Analysts attributed the fall in gold prices to weak global cues at higher level.
Globally, gold was trading 0.19 per cent lower at USD 2,326.70 per ounce in New York.
On the MCX, gold contracts for June delivery traded lower Rs 129 at Rs 71,240 per 10 grams in a business turnover of 17,169 lots.
Analysts attributed the fall in gold prices to weak global cues at higher level.
Globally, gold was trading 0.19 per cent lower at USD 2,326.70 per ounce in New York.
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