Gold futures ease on weak global cues

New Delhi, Mar 17 () Gold prices on Tuesday fell by Rs 477 to Rs 39,041 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 Rs 477, or 1.21 per cent, to Rs 39,041 per 10 gram in a business turnover of 4,662 lots.

The yellow metal for June delivery declined by Rs 554, or 1.39 per cent, to Rs 39,335 per 10 gram in 757 lots.

Analysts said subdued overseas cues influenced sentiments here.

Globally, gold was trading 0.20 per cent lower at USD 1,483.60 per ounce in New York. SHWSHW