Gold futures decline on global cues

Gold prices declined by Rs 205 to Rs 27,371 per 10 grams in futures trade on thursday as speculators offloaded their positions, tracking a weakening trend overseas.

At the Multi Commodity Exchange, gold for delivery in April declined by Rs 205, or 0.74 per cent, to Rs 27,371 per 10 grams, with an open interest for 650 lots.

In a similar fashion, the metal for February contract delivery lost Rs 190, or 0.70 per cent, to Rs 27,091 per 10 grams in 8,306 lots.

Market analysts attributed the fall in gold futures prices to a weakening global trend. Meanwhile, gold was trading USD 2.80 lower at USD 1,553.50 an ounce in the Asia region.

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