Gold & Silver

Gold futures down at Rs 28,932 per 10 grams

PTI New Delhi | Updated on May 23, 2012

Gold futures prices today fell by Rs 155 to Rs 28,932 per 10 grams as speculators offloaded their positions on the back of a weak global trend.

Sentiment turned bearish after gold retreated for a second day in global markets as concerns that Greece may leave the euro region strengthened the dollar, trimming the demand for alternative investments.

At the Multi Commodity Exchange, gold for delivery in June fell by Rs 155 or 0.53 per cent to Rs 28,932 per 10 grams with a business turnover of 767 lots.

Similarly, the metal for delivery in August moved down by Rs 142 or 0.48 per cent to Rs 29,625 per 10 grams with a business turnover of 913 lots.

Market analysts said speculators offloaded their positions in tandem with a weak trend in overseas market, which mainly led to the fall in gold prices at the futures trade.

Meanwhile, the yellow metal fell 0.8 per cent to $1,555.97 an ounce in Singapore.

Published on May 23, 2012

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