Gold futures tumble 1.06 per cent on weak global cues

Feb 21, 2013 |

New Delhi

Tags:

Gold

Gold prices tumbled by 1.06 per cent to Rs 29,263 per ten grams in futures trade today amid heavy selling by speculators, driven by a steep fall in prices in global markets.

At the Multi Commodity Exchange, gold for delivery in April fell Rs 316, or 1.06 per cent, to Rs 29,263 per ten grams, with a business turnover of 12,794 lots.

Similarly, the metal for delivery in June dropped Rs 315, or 1.04 per cent, to Rs 29,801 per ten grams, with a business turnover of 920 lots.

Market men said gold prices dropped in futures trade on frantic selling by speculators as gold in global markets fell for the seventh day, slumping to the lowest level since July.

Gold in Singapore fell 0.60 per cent to USD 1,555.55 an ounce, the lowest since July 12.

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