Gold futures soften by 0.17% on global cues

New Delhi: Gold prices slipped by 0.17 per cent to Rs 31,539 per ten gram in futures trading today as speculators trimmed their positions, taking weak cues from global markets.  At the Multi Commodity Exchange, gold for delivery in August fell by Rs 55, or 0.17 per cent to Rs 31,539 per ten gram in a business turnover of 4 lots.

On similar lines, the yellow metal for delivery in June was trading lower by Rs 51, or 0.16 per cent to Rs 31,355 per ten gram in 606 lots. Analysts said the slide in gold futures was mostly in tandem with a weak trend overseas where the metal stayed close to five-week lows, pressured by a stronger dollar, which hovered near more than three-month highs, and a rise in US Treasury yields. Meanwhile, gold fell 0.54 per cent to USD 1,322.60 an ounce in New York in yesterday’s trade.

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