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Amid a weak global trend, gold futures traded lower by Rs 225 at Rs 28,374 per 10 grams today as speculators cut down their bets.
Besides, profit-booking by speculators at existing levels weighed on the precious metal prices.
Gold for delivery in April dropped Rs 225 or 0.79 per cent to Rs 28,374 per 10 grams in a business turnover of 363 lots at the Multi Commodity Exchange.
In a similar fashion, the metal for delivery in far-month June was trading down Rs 223 or 0.77 per cent at Rs 28,639 per 10 grams in 78 lots.
Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas where it sank to a one-month low as the dollar’s rally hurts the allure of the metal that has been the best-performing commodity of 2016.
Meanwhile, gold prices fell 0.23 per cent to $1,213.40 an ounce in Singapore today.
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