Gold prices decline 0.10 pc in futures trade

Gold prices on Tuesday fell by 0.10 per cent to Rs 28,050 per ten gram in futures trade in line with weak overseas trends.

Gold prices fell by Rs 28, or 0.10 per cent, to trade at Rs 28,050 per 10 grams for delivery in August at the Multi Commodity Exchange in 11 lots.

The June contract of gold dropped by Rs 21, or 0.07 per cent, to Rs 28,506 per 10 gm in 660 lots.

Gold tumbled by Rs 210 to Rs 30,040 per 10 grams at spot markets of Delhi in Monday's trade.

Analysts said weakness in the overseas markets, where gold dipped to over two-week low on signs of an improving US economy as assets in the largest exchange-traded product sank to a 12-week low, put pressure on the precious metal prices at futures trade.

Globally, gold lost 0.30 per cent to $1,285.96 an ounce in Singapore.