NEW DELHI: Gold prices declined by Rs 17 to Rs 16,685 per ten grams in futures market on Monday as traders indulged in reducing their positions on the back of weakening global trend.
At the Multi Commodity Exchange, gold for August contract declined by Rs 17, or 0.10 per cent to Rs 16,685 per ten grams with an open interest of 1,165 lots.
The metal for delivery in June contract shed Rs 11, or 0.07 per cent to Rs 16,598 per ten grams in 16,207 lots.
Analysts said fresh off-loading by traders after reports of weakening global trend mainly led to fall in gold prices at futures trade.
Meanwhile, gold shed 1.90 dollar to 1,134.90 dollar an ounce in the Asian region. - PTI
