 "Gold down 0.3% on global cues")
Gold futures fell by 0.33% to Rs 28,480 per 10 grams today 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 93, or 0.33%, to trade at Rs 28,480 per 10 grams in a turnover of 234 lots.
Similarly, the metal for delivery in August shed Rs 64, or 0.23%, to Rs 28,176 per 10 gm in 3 lots.
Analysts said a weakening trend overseas on prospects for further cuts to the Federal Reserve's stimulus programme as the US economy shows signs of recovery, weighed on gold prices at futures trade.
At the Multi Commodity Exchange, gold for delivery in June, fell by Rs 93, or 0.33%, to trade at Rs 28,480 per 10 grams in a turnover of 234 lots.
Similarly, the metal for delivery in August shed Rs 64, or 0.23%, to Rs 28,176 per 10 gm in 3 lots.
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Globally, gold lost as much as 0.50% to $1,295.88 an ounce in Singapore.
Analysts said a weakening trend overseas on prospects for further cuts to the Federal Reserve's stimulus programme as the US economy shows signs of recovery, weighed on gold prices at futures trade.