Gold prices slip in futures trade on global cues

New Delhi: Gold prices fell by  Rs 20 to Rs 24,909 per 10 grams in futures trade amid a weak global trend. At Multi Commodity Exchange, delivery in far-month October contract was trading lower by Rs 20, or 0.08 per cent at Rs 24,909 per 10 grams in a business turnover of 355 lots. Also, the precious metal for delivery in August month contracts shed Rs 11, or 0.04 per cent, to Rs 24,709 per ten grams in 720 lots.

Analysts attributed the fall in gold futures to a weak global trend as the Federal Reserve moved closer to boosting US interest rates for the first time since 2006. Globally gold fell 0.4 per cent to USD 1,092.49 an ounce in Singapore.