Gold down 0.12% in futures trade

Gold futures prices declined marginally by Rs 36 to Rs 29,078 per 10 grams today due to a weakening trend overseas as strengthening dollar curbed the demand for the precious metal.

At the Multi Commodity Exchange, the June contract for gold fell by Rs 36, or 0.12%, to Rs 29,078 per 10 grams, with a business turnover of 22 lots.

The April contract lost Rs 31, or 0.11%, to Rs 28,709 per 10 grams, with a trade volume of 460 lots.

Analysts said the fall in gold prices at futures trade was mostly due to a weakening trend overseas after Standard & Poor's cut Greece's credit rating, weakening the euro against the dollar and damping demand for alternative investments.

Meanwhile, gold was quoted a shade lower at $1,767.97 an ounce in early trade today in Singapore.