Gold Futures Fall Rs 1,701 Amid Weak Global Cues

Gold prices on Wednesday dropped by Rs 1,701 to Rs 1,40,830 per 10 grams in futures trade amid a fall in spot demand.

On the Multi Commodity Exchange, yellow metal contracts for August delivery traded lower by Rs 1,701, or 1.19 per cent, at Rs



1,40,830 per 10 grams in a business turnover of 2,103 lots. 

Analysts attributed the fall in precious metal prices to weak global cues. Globally, gold futures declined by 0.94 per cent to USD 3,970.15 per ounce in New York.