Gold Futures Fall on Low Demand - MCX Prices Drop
Gold futures prices fell on Monday due to reduced speculator positions and weak global cues. The MCX gold contract for June delivery traded at Rs 72,208 per 10 grams.
Photograph: Arnd Wiegmann/Reuters
New Delhi, May 13 (PTI) Gold prices on Monday declined Rs 519 to Rs 72,208 per 10 grams in futures trade as speculators reduced their positions.
On the MCX, gold contracts for June delivery traded lower Rs 519 at Rs 72,208 per 10 grams in a business turnover of 13,923 lots.
Analysts attributed the fall in the precious metal prices to weak global cues.
Globally, gold was trading 0.88 per cent lower at USD 2,354.20 per ounce in New York.
On the MCX, gold contracts for June delivery traded lower Rs 519 at Rs 72,208 per 10 grams in a business turnover of 13,923 lots.
Analysts attributed the fall in the precious metal prices to weak global cues.
Globally, gold was trading 0.88 per cent lower at USD 2,354.20 per ounce in New York.
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