Gold prices fall by Rs 585 per 10 grams amid weak global cues

New Delhi: Gold prices Friday fell Rs 585 to Rs 50,958 per 10 grams in the futures trade as participants cut down their bets amid a weak global trend.

On the Multi Commodity Exchange, gold prices for delivery in April fell by Rs 585, or 1.13 per cent, to Rs 50,958 per 10 grams in a business turnover of 11,250 lots.

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Analysts attributed the fall in prices to trimming of positions by investors tracking a weak trend in the global market.

Globally, gold was trading 0.61 per cent lower at USD 1,914.6 an ounce in New York.

PTI