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This is an archive article published on September 20, 2012

Gold prices fall 0.43% on global cues

Gold for delivery in October month fell by Rs 137,or 0.43 per cent.

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Tracking a weak global trend,gold prices fell Rs 137 at Rs 31,881 per 10 grams in the futures trade today as speculators offloaded their positions.

Sentiment turned bearish after gold fell in global markets as the rally to a 29-week high and lower commodity prices prompted some investors to sell the metal.

At the Multi Commodity Exchange,gold for delivery in October month fell by Rs 137,or 0.43 per cent to Rs 31,881 per ten grams in business turnover of 7956 lots.

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Similarly,the yellow metal for delivery in December contract lost Rs 134,or 0.41 per cent to Rs 32,201 per 10 grams in 659 lots.

Market analysts said speculators offloaded their positions amid weak global trend which mainly pulled down gold prices at futures trade.

Meanwhile,gold dropped 0.5 per cent to 1,762.27 dollar an ounce in Singapore.

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