Gold Futures Slide On Global Cues

Gold prices dipped in futures trade today as speculators trimmed their positions post a weak overseas trend. Analysts said off-loading of positions by participants in line with a weak trend overseas on a firm dollar and outlook for further interest rate hikes in the United States, mainly influenced gold prices at the futures trade.

At the MCX, gold futures for June 2018 contract is trading at Rs 31343 per 10 grams, down by 0.51 per cent, after opening at Rs 31450 against a previous close of Rs 31504. It touched the intra-day low of Rs 31319.

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