Gold prices weaken to at Rs 28,436 in futures trade

May 12 2014, 11:12 IST
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Gold futures prices fall by 0.31 per cent to Rs 28,436 per 10 grams. Gold futures prices fall by 0.31 per cent to Rs 28,436 per 10 grams.
SummaryAt the Multi Commodity Exchange, gold for delivery in June, fell by Rs 89 to trade at Rs 28,436.

Gold futures prices today fell by 0.31 per cent to Rs 28,436 per 10 grams as participants indulged in reducing exposures, largely in tandem with a global trend.

At the Multi Commodity Exchange, gold for delivery in June, fell by Rs 89, or 0.31 per cent, to trade at Rs 28,436 per 10 grams in a turnover of 207 lots.

Similarly, the metal for delivery in August shed Rs 66, or 0.24 per cent, to Rs 27,850 per 10 gm in three lots.

Globally, gold lost as much as 0.70 per cent to USD 1,280.02 an ounce, the lowest level since May 2 in Singapore.

Analysts said a weakening trend overseas amid speculation that the Federal Reserve will press on with reducing monetary stimulus, weighed on gold prices at futures trade.

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