Tracking global markets, gold continued its slide for the second straight day and traded Rs 102 or 0.52 per cent lower at Rs 18,355 per ten gram in futures trade today.
Recovery in global equity markets, which curbed investor demand for the metal as an an alternative investment and fall in spot demand at prevailing prices also weighed on the gold futures, analysts said.
At the Multi Commodity Exchange, gold for delivery in current-month, June traded Rs 102, or 0.52 per cent down at Rs 18,355 per ten gram, clocking a turnover of 17 lots.
Similarly, the metal for delivery in August contract also eased by Rs 93, or 0.50 per cent, to Rs 18,357 per ten gram, with a business turnover of 608 lots. It ended one per cent down at Rs 18,450 per ten gram in the previous session.
Gold for delivery in far-month October contract fell by Rs 75, or 0.40 per cent to Rs 18,449 per ten gram, with a turnover of 58 lots.
In the Asian trade, gold dropped by $0.70, or 0.06 per cent, to $1,208.10 an ounce in the morning trade today.
