Gold futures fell by 0.31 per cent in early trade on the Multi Commodity Exchange today, continuing its slide for the second straight
session, as speculators indulged in reducing their positions due to the overnight weakening trend in the global markets.
At 1100 hrs on the MCX, gold for the most-active June month contract fell by 0.31 per cent to Rs 14,470 per ten gram. The contract recorded business turnover of 144 lots.
The metal for the August-month contract moved down by 0.27 per cent to Rs 14,483 with trading of 74 lots.
Marketmen said an overnight plunge of nearly USD 20 an ounce in gold prices, the sharpest fall in three weeks, in global markets mainly triggered selling in gold at the futures market here.
On the New York Mercantile Exchange last night, gold futures for June delivery dropped bu USD 19.60, or 2.2 per cent, to USD 888.60 an ounce.
