Gold futures fall on weak global cues

Gold prices on Wednesday fell by ₹ 444 to ₹ 39,800 per 10 gram in futures trade as participants cut down their positions tracking a weak trend overseas.

On the Multi Commodity Exchange, gold prices for April delivery fell by ₹ 444, or 1.1 per cent to ₹ 39,800 per 10 gram in a business turnover of 4,662 lots.

The yellow metal for June delivery declined by ₹ 606, or 1.5 per cent, to ₹ 39,844 per 10 gram in 403 lots.

The analysts said subdued overseas cues mainly influenced sentiments here. Globally, gold was trading 0.78 per cent lower at $ 1,513.90 per ounce in New York.