Tracking a weakening global trend, gold prices declined by Rs 46 to Rs 28,587 per ten grams in futures trading today as speculators offloaded their positions.
At the Multi Commodity Exchange, the June contract declined by Rs 46, or 0.16%, to Rs 28,587 per 10 grams in business turnover of 7,096 lots.
The August contract lost Rs 42, or 0.14%, to Rs 28,975 per 10 grams in 242 lots.
Market analysts attributed the decline in gold futures to weakening global trends.
They said subdued demand at prevailing higher levels also influenced the gold prices.
Meanwhile, gold lost 0.4% to $1,653.35 an ounce in Singapore.
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