Gold prices down to Rs 29,325 per 10 gm on weak global cues

Gold prices declined by Rs 84 to Rs 29,325 per 10 grams due to speculative selling on weak cues from the global market. 

At the Multi Commodity Exchange, gold for delivery in far-month June shed Rs 84, or 0.29%, to Rs 29,325 per ten grams in a business turnover of 52 lots.

In a similar fashion, the metal for delivery in April fell by Rs 82, or 0.28%, to Rs 29,049 per ten grams in 737 lots.

Analysts said, the fall in the prices of gold in futures trade was mostly in tandem with the global trend as the dollar stabilised after a slump sparked by the Federal Reserve lowering its interest-rate outlook for this year.

Globally, gold fell 0.40% to $1,250.99 an ounce in Singapore on Monday.