Poochandi

June 07, 2010

Tracking weak global trend, gold prices declined by Rs 26 or 0.14 per cent to Rs 18,768 per ten gram in futures trade today, as speculators reduced their holdings.

At the Multi Commodity Exchange, gold for August contract declined by Rs 26, or 0.14 per cent to Rs 18,768 per ten gram, with an open interest of 19,031 lots.

Similarly, the metal for delivery in October contract traded lower by the same margin at Rs 18,850 per ten gram, with a business turnover of 1,587 lots.

Marketmen said a weakening global trend and profit-taking at the existing higher levels led to a fall in gold prices at futures trade.

Meanwhile, gold declined by USD 3.10 to USD 1,216.90 an ounce in the Asian region.