Gold prices fell by Rs 28 to Rs 21,620 per 10 grams in futures trade today as speculators reduced their positions on the back of a weakening global trend.
At the Multi Commodity Exchange, gold for delivery in August declined by Rs 28, or 0.13 per cent, to Rs 21,620 per 10 grams, with an open interest of a single lot.
Likewise, the metal for delivery in April traded lower by Rs 13, or 0.06 per cent, to Rs 21,069 per 10 grams, with a business turnover of two lots.
Market analysts said beside weakening trend in Asia, sluggish demand at existing higher levels led to the fall in gold futures prices.
Sentiment turned bearish after gold retreated for the second consecutive day in Asia as oil extended its decline from a 29-month high, helping to ease concerns over rising inflation and cooling demand for the metal as a store of value.
Meanwhile, gold fell 0.4 per cent to $1,422.95 an ounce in Asia.
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