Gold falls to Rs 14,462 per 10 grams

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Gold softens on fall in demandRBI buys 200 MT gold from IMFGold at record high of Rs 16,254/10 gmGold edges higher to Rs 15,916 per 10 gms

Mumbai: India gold futures edged lower on Friday weighed by a strong rupee locally, making the imported yellow metal cheaper, analysts said.

The most active August contract was 0.13 per cent lower at Rs 14,462 per 10 grams at 11:20 a.m., after hitting a low of Rs 14,436 in early deals.

The Indian rupee extended gains for a second day on Friday and traders said they would be watching quarterly earnings of companies for cues on economic outlook.

"The Indian rupee is pressuring prices," said Kunal Shah, assistant vice-president, Nirmal Bang Commodities. "Trade is likely to remain lacklustre."

Gold may be in the range Rs 14,440-14,550, said Aurobinda Prasad, deputy manager-research with Karvy Comtrade.