Gold futures decline 0.15 per cent on weak global cues

New Delhi: Amid a weak global trend, gold prices drifted lower by 0.15 per cent to Rs 30,429 per ten grams in futures trade on Thursday as participants cut bets.

At the Multi Commodity Exchange, gold for delivery in far-month April fell Rs 47, or 0.15 per cent, to Rs 30,429 per ten grams in a business turnover of 393 lots.

Likewise, the yellow metal for delivery in far-month June traded lower by Rs 45, or 0.15 per cent, to Rs 30,570 per ten grams in 2,371 lots.

Analysts said the weakness in gold futures was mostly in tune with a subdued trend overseas as minutes from the last US Federal Reserve indicated a hike in interest rates, strengthening the dollar and diminishing the appeal of the precious metal as a safe haven.

Meanwhile, gold fell 0.05 per cent to USD 1,323.40 an ounce in Singapore on Thursday.