Gold futures slip 0.16 per cent on global cues

New Delhi: Amid weak cues from overseas markets, gold prices moved down by 0.16 per cent to Rs 30,175 per 10 grams in futures trade on Monday after participants trimmed positions.

At the Multi Commodity Exchange, gold for delivery in April month fell by Rs 49, or 0.16 per cent, to Rs 30,175 per ten grams in business turnover of 66 lots.

Similarly, the yellow metal for delivery in far-month June was trading lower by Rs 42, or 0.14 per cent to Rs 30,365 per ten grams in 1 lot.

Analysts said offloading of positions by traders, tracking a weak trend overseas as the dollar remained firm, with investors expecting the US Federal Reserve to raise interest rates at this week's policy meeting, influenced gold prices in futures trade.

Meanwhile, gold prices fell 0.17 per cent to USD 1,311.40 an ounce in Singapore on Monday.