Gold down 0.27% in futures trade

Traders offload partial positions even as metal gains in global markets

Gold prices moved down by 0.27 per cent to Rs 28,938 per 10 gram in futures trade today after participants off-loaded partial positions even as metal rose in the global markets.
    
At the Multi Commodity Exchange, gold for delivery in far-month April contracts declined by Rs 79, or 0.27 per cent, to Rs 28,938 per 10 gram in business turnover of 262 lots.
    
February gold shed Rs 36, or 0.12 per cent, to Rs 29,809 per 10 gm in 13 lots.
    

Market analysts said fall in gold futures prices to off-loading of positions by speculators even as metal regained some strength overseas as concern that global growth may be faltering sent equity markets lower and boosted demand for haven assets.

      
Globally, gold rose as much as 0.20 per cent to $1,259.98 an ounce in Singapore today.