Tracking a weak trend overseas, gold prices fell by 0.34% to Rs 28,058 per 10 grams in futures trade today as speculators reduced their positions.
Sentiment in the futures market turned bearish after gold declined in the global markets as concerns that Europe's debt crisis bolster the dollar and reduced demand for the metal as an alternative investment.
At the Multi Commodity Exchange, October gold fell by Rs 96, or 0.34%, to Rs 28,058 per 10 grams, with a business turnover of 1,452 lots.
The December contract declined by Rs 84, or 0.30%, to Rs 28,383 per 10 grams in 123 lots.
Meanwhile, gold declined by $9.70 to $1,811.40 an ounce in Asian region.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app