Gold down 0.2% on global cues
Metal for delivery in June shed 0.16%
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Gold futures fell by 0.28% to Rs 28,079 per 10 grams today as participants engaged in reducing exposures, largely in tandem with a global trend.
At the Multi Commodity Exchange, gold for delivery in August, fell by Rs 80, or 0.28%, to trade at Rs 28,079 per 10 grams in a turnover of 134 lots.
Similarly, the metal for delivery in June shed Rs 47, or 0.16%, to Rs 28,703 per 10 gm in 1,323 lots.
Globally, gold lost as much as 0.25% to $1,292.70 an ounce in Singapore today.
Analysts said a weakening trend overseas on speculation that the Federal Reserve will further reduce US monetary stimulus at a two-day policy meeting that concludes today, put pressure on gold futures here.
At the Multi Commodity Exchange, gold for delivery in August, fell by Rs 80, or 0.28%, to trade at Rs 28,079 per 10 grams in a turnover of 134 lots.
Similarly, the metal for delivery in June shed Rs 47, or 0.16%, to Rs 28,703 per 10 gm in 1,323 lots.
Globally, gold lost as much as 0.25% to $1,292.70 an ounce in Singapore today.
Analysts said a weakening trend overseas on speculation that the Federal Reserve will further reduce US monetary stimulus at a two-day policy meeting that concludes today, put pressure on gold futures here.
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First Published: Apr 30 2014 | 12:34 PM IST