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Gold futures prices fell 0.55 per cent to Rs 27,779 per 10 grams today as speculators offloaded their positions amid a weak global trend.
On the Multi Commodity Exchange, gold prices for delivery in August fell Rs 155 or 0.55 per cent to Rs 27,779 per 10 grams in a business turnover of 99 lots.
Similarly, the metal prices for delivery in far-month October declined Rs 112 or 0.4 per cent to Rs 27,911 per ten grams in 102 lots.
US economic growth
Market analysts said the fall in gold futures was mostly attributed to trimming of positions by speculators as further signs that the US recovery is gaining momentum strengthened the case for higher borrowing costs in the world’s largest economy.
Meanwhile, gold prices fell 0.2 per cent to $1,294.24 an ounce in Singapore.
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