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Gold futures prices fell Rs 189 to Rs 28,055 per 10 gm today, as speculators offloaded their positions after the precious metal dropped to an year’s low in overseas markets.
At the Multi Commodity Exchange, gold for delivery in April fell Rs 189 or 0.67 per cent to Rs 28,055 per 10 gm with a business turnover of 3,905 lots.
Similarly, the metal for delivery in August declined by Rs 177 or 0.62 per cent to Rs 28,441 per 10 gm with an open interest of 364 lots.
Analysts attributed the fall in gold prices at futures trade to offloading of positions by speculators after the precious metal dipped to an year’s low. Concerns over Europe’s debt crisis strengthened the dollar and cut its appeal as an alternative asset.
Meanwhile, gold fell 0.2 per cent to $1,552.97 an ounce in Singapore, the lowest level since December 30.
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