Gold futures down on global cues

New Delhi, Jun 24 : Gold prices moved down by 0.25 per cent to Rs 27,610 per 10 gram in futures trade today as participants offloaded positions partially, taking weak cues from the global market on slowing physical demand. Besides, profit-booking also influenced the sentiment.

At the Multi Commodity Exchange, gold for delivery in August contracts declined by Rs 68, or 0.25 per cent, to Rs 27,610 per 10 gram in business turnover of 370 lots. Likewise, the metal for delivery in far-month October shed Rs 70, or 0.25 per cent, to Rs 27,717 per 10 gram in three lots.

Market analysts said a weak trend in the overseas markets on assessment of the US economic recovery by the investors and the impact on borrowing costs amidst signs of slowing physical demand weighed on gold prices in futures trade here. Globally, gold lost 0.3 per cent to USD 1,313.98 an ounce in early trade in Singapore today.