PT: Gold trades marginally down on lower global trend
New Delhi, July 1 (PTI) Gold prices traded marginally lower by Rs 10, or 0.05 per cent, to Rs 18,842 per ten gram in futures market today owing to slack demand at existing higher levels amid weakening global trend.
Trading sentiment turned weak, as gold declined in global markets after completing the best quarterly advance since the end of 2007, amid speculation investors don't believe further gains are imminent.
At the Multi Commodity Exchange, gold for August contract lost Rs 10, or 0.05 per cent, to Rs 18,842 per ten gram, with an open interest of 22,012 lots.
The metal for delivery in October contract also traded lower by Rs 8, or 0.04 per cent, to Rs 18,918 per ten gram, with a business turnover of 2,178 lots.
