Gold Down On Weak Global Cues

Gold futures closed lower in the domestic market on Wednesday as participants reduced their exposures, triggered by a weak trend overseas.

Analysts said offloading of positions by traders on the back of a weak trend in the overseas markets mainly influenced gold prices at futures trade.

At the MCX, Gold futures for August 2016 contract closed at Rs 30728, per 10 gram, down by 1.18 per cent after opening at Rs 31,065, against the previous closing price of Rs 31,094. It touched the intra-day low of Rs 30,705.

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Suhani Verma

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