Gold down 0.2% on global cues
Metal for delivery in June shed 0.19%
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Gold futures fell by 0.21% to Rs 28,148 per 10 grams today as participants indulged in reducing exposures, largely in tandem with a global trend.
At the Multi Commodity Exchange, gold for delivery in August, fell by Rs 59, or 0.21%, to trade at Rs 28,148 per 10 grams in a turnover of 18 lots.
On similar lines, the metal for delivery in June shed Rs 54, or 0.19%, to Rs 28,535 per 10 grams in 389 lots.
Globally, gold lost as much as 0.19% to $1,299.70 an ounce in Singapore.
Analysts said a weakening trend overseas as an improving US economy raised bets that the Federal Reserve may continue to pare its monthly bond buying programme in the coming months, reducing the appeal of the bullion, weighed on gold futures.
At the Multi Commodity Exchange, gold for delivery in August, fell by Rs 59, or 0.21%, to trade at Rs 28,148 per 10 grams in a turnover of 18 lots.
On similar lines, the metal for delivery in June shed Rs 54, or 0.19%, to Rs 28,535 per 10 grams in 389 lots.
Globally, gold lost as much as 0.19% to $1,299.70 an ounce in Singapore.
Analysts said a weakening trend overseas as an improving US economy raised bets that the Federal Reserve may continue to pare its monthly bond buying programme in the coming months, reducing the appeal of the bullion, weighed on gold futures.
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First Published: Apr 17 2014 | 11:26 AM IST