Gold sheds 0.17% in futures trade on weak global cues

Gold prices fell by Rs 43 to Rs 25,799 per 10 grams in futures trade today as participants trimmed their positions, largely in tune with a weak trend overseas amid profit-booking. In futures trading, gold for delivery in far-month April next year was trading Rs 43, or 0.17 per cent down, at Rs 25,799 per 10 grams at Multi Commodity Exchange with a business turnover of 4 lots. February gold shed Rs 29, or 0.11 per cent, to Rs 25,686 per 10 grams in 502 lots. Analysts said a weakening trend in the overseas markets where gold decline as investors weighed a US jobs report that showed both a growth in payrolls and a rise in the rate of underemployment, kept pressure on the precious metal at futures trade here. Globally, gold fell 0.3 per cent to $1,082.83 an ounce in Singapore.

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