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Gold futures weaken on spot demand

Analysts said fall in gold prices was mainly due to trimming of positions by participants. Besides, weak trend overseas influenced the sentiment, they added

PTI PTI
New Delhi Published on: September 04, 2019 13:14 IST
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Gold futures weaken on spot demand

 Gold prices fell by Rs 43 to Rs 39,637 per 10 gram in futures trade on Wednesday as speculators reduced positions amid weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in October was trading lower by Rs 43, or 0.11 per cent, to Rs 39,637 per 10 gram in a business turnover of 3,221 lots.

On the similar lines, the precious metal for delivery in December eased by Rs 71, or 0.18 per cent, to Rs 40,092 per 10 gram in 498 lots.

Analysts said fall in gold prices was mainly due to trimming of positions by participants. Besides, weak trend overseas influenced the sentiment, they added.

Globally, gold was trading lower by 0.22 per cent at USD 1,552.50 an ounce in New York. 

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