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Gold futures prices decline on weak global cues

Gold futures prices declined by 0.11 per cent on the Multi Commodity Exchange today as speculators indulged in reducing their positions in tandem with weak overseas trend. - Silver prices trade higher on firm global cues - Silver prices set to touch Rs 27,000 per kg by December - NMCE to raise Rs 50-60 cr for overseas strategic investments - Comexes" turnover up 38 per cent - Crude oil futures up 1.3% on firm global cues - MCX launches futures trading in almond Gold for October month contract fell by 0.11 per cent to Rs 14,878 per ten gram, clocking an open interest of 14,170 lots. Similarly, gold for December contract shed 0.09 per cent to Rs 14,891 per ten gram, clocking an open interest of 1,217 lots. Marketmen said speculators reducing their positions influenced by weakening trend in the Asian region mainly led to fall in gold prices at futures market here. Meanwhile, gold prices traded lower in Hong Kong at 944 dollars an ounce against Friday"s close of $956.30.

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