NEW DELHI: Gold futures prices declined by Rs 44 to Rs 16,598 per ten gram on Wednesday as traders indulged in reducing their positions in tandem with a weakening global trend.
At the Multi Commodity Exchange counter, August contract declined by Rs 44, or 0.26 per cent, to Rs 16,598 per ten gram with an open interest of 456 lots. April contract traded marginally lower by Rs 12, or 0.07 per cent to Rs 16,433 per ten gram in 13,9 72 lots.
Marketmen said fresh offloading by speculators in tandem with a weakening global trend led to fall in gold prices at futures market.
Meanwhile, gold fell by 0.50 per cent to $1,099.50 per ounce in the Asian region. — PTI
