Gold futures decline to Rs 26,635 per 10 gm

June 3, 2014

New Delhi-India  (June 3)  Gold prices fell 0.25 per cent to Rs 26,635 per 10 gram at the futures trade today as participants reduced their positions largely in tandem with a weak trend overseas where the precious metal dropped to a four-week low.

On the Multi Commodity Exchange, gold for delivery in June eased by Rs 66 or 0.25 per cent to Rs 26,635 per 10 gram in a business turnover of three lots.

Likewise, the metal for delivery in August shed Rs 63 or 0.24 per cent to Rs 25,686 per 10 gram in 137 lots.

Market analysts said a weak trend in the overseas market as signs that the improving US economy drove advances in the dollar and equities, eroding the demand for safe haven as an alternative investment, weighed on gold futures here.

Globally, the yellow metal fell to $1,243.09 in Singapore today from yesterday’s $1,243,93 an ounce.

Silver Phoenix Twitter                 Silver Phoenix on Facebook