Gold prices moved down by 0.17 per cent to Rs 30,145 per 10 gm at the futures trade today after participants off-loaded partial positions on weak cues from the global market.
At the Multi Commodity Exchange, gold for delivery in far-month June declined by Rs 51 or 0.17 per cent to Rs 30,145 per 10 gm in a business turnover of 216 lots.
Likewise, the metal for delivery in April shed Rs 47 or 0.16 per cent to Rs 29,585 per 10 gm in 389 lots.
Market analysts said a weak trend prevailed in the overseas market as holdings in exchange-traded products fell the most on record and the dollar climbed on prospects for a US recovery, eroding the metal’s allure as an alternative investment.
Weak overseas trend has mainly put pressure on gold prices at the futures trade here. Globally, gold traded a shade lower at $1,605.97 an ounce in Singapore today.
