Gold prices slip below Rs 27k in futures trade on global cues

October 19, 2015 11:25

Gold prices today eased below the Rs 27,000-mark by falling Rs 178 to Rs 26,972 per 10 grams in futures trade amid a weak global trend.

At Multi Commodity Exchange, delivery in December contract was trading lower by Rs 178, or 0.66 per cent, at Rs 26,972 per 10 grams in a business turnover of 377 lots.

Also, the precious metal for delivery in far-month February next year contracts shed Rs 173, or 0.63 per cent, to Rs 27,185 per ten grams in 7 lots.

Analysts attributed the fall in gold futures to a weak global trend where it retreated from three-month high as signs of a buoyant US economy revived expectations that the Federal Reserve may raise interest rates and data showed that China expanded quicker than economists forecast in the third quarter.

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