Gold price falls by Rs 103 in futures trade

Zee Media Bureau

Tracking weak cues from global markets, gold prices fell by Rs 103 to Rs 27,643 per 10 grams in futures trade Wednesday.

Appreciation in Rupee against US dollar also weighed on yellow metal prices.

At the Multi Commodity Exchange (MCX), gold for delivery in August declined by Rs 103, or 0.37 percent, to Rs 27,643 per 10 grams.

Market analysts said a weak trend in the overseas markets on signs that the recent rally in precious metal has hurt demand put pressure on gold prices at futures trade here.

Gold in overseas markets, which normally set price trend on the domestic front, edged lower by USD 0.70 or 0.05 percent to USD 1,325.40 per ounce.

With agency inputs