Gold futures slide on weak global cues

New Delhi: Gold futures fell by 0.23 per cent to Rs 31,460 per 10 grams on August 2 as participants cut bets amid a weak global trend. Besides, profit-booking by speculators weighed on gold prices.

At the Multi Commodity Exchange, gold for delivery in August shed Rs 74, or 0.23 per cent, to Rs 31,460 per 10 grams in a business turnover of 2 lots.

Also, the metal for delivery in far-month October declined by Rs 67, or 0.21 per cent, to Rs 31,495 per 10 grams in 92 lots. Market analysts attributed the fall in prices to weak trend overseas and profit-booking by participants at existing levels.

Meanwhile, gold traded 0.29 per cert lower at USD 1,348.50 an ounce in Singapore.