Gold futures decline 0.16% on global cues

Gold prices fell by 0.16 % to Rs 28,155 per 10 grams in futures trade today as speculators trimmed positions, tracking a weak global trend.

At the Multi Commodity Exchange, gold for delivery in August fell by Rs 44, or 0.16 % to Rs 28,155 per 10 grams in business turnover of 1,396 lots.

In a similar fashion, the yellow metal for delivery in October contracts shed Rs 11, or 0.04 % to Rs 28,100 per 10 grams in 71 lots.

Market analysts said the fall in gold futures was mostly in line with a weak trend overseas amid investors weighing the outlook for US monetary policy against increased geopolitical tensions.

Meanwhile, gold fell 0.3 % to USD 1,315.72 an ounce in Singapore.