Gold futures shed 0.18% on weak global cues

At the Multi Commodity Exchange, gold for delivery in April declined by Rs 58, or 0.18 percent, to Rs 31,902 per 10 gram in a business turnover of 959 lots.

Gold prices weakened 0.18 percent to Rs 31,902 per 10 gram in futures market on Wednesday as speculators trimmed their positions taking weak cues from global market.

At the Multi Commodity Exchange, gold for delivery in April declined by Rs 58, or 0.18 percent, to Rs 31,902 per 10 gram in a business turnover of 959 lots.

Similarly, the June contract of gold was down by Rs 48, or 0.15 percent, at Rs 32,142 per 10 gram in a business turnover of 62 lots.

Analysts said the fall in yellow metal prices in futures trade was mostly in tandem with a weak trend overseas on a stronger dollar.Globally, gold fell 0.2 percent to USD 1,304.27 an ounce in New York Wednesday.

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