Gold futures down 0.20 pc on global cues

Tracking a weak trend overseas, gold prices drifted lower by 0.20 per cent to Rs 28,828 per 10 grams in futures trade today as speculators trimmed positions.
At the Multi Commodity Exchange, gold for delivery in April fell Rs 57, or 0.20 per cent, to Rs 28,828 per ten grams in a business turnover of 253 lots.
Similarly, the yellow metal for delivery in June was trading lower by Rs 51, or 0.18 per cent, to Rs 28,960 per ten grams in six lots.
Market analysts said, the fall in gold futures was mostly attributed to offloading of positions by participants in line with a weak trend overseas.

Meanwhile, gold prices fell 0.16 per cent to USD 1,246.20 an ounce in Singapore.