Gold loses shine, down on MCX

Gold futures on the Multi Commodity Exchange (MCX) lost shine and fell in electronic trading on Wednesday. The most traded commodity gold for June delivery on MCX was trading lower by Rs 41 at Rs 28,832 per 10 grams at 2.30 pm IST.

Gold futures declined in today's trade after climbing in the previous session as the spike in precious metal tempted traders to book profits.

Gold for August delivery was seen trading at Rs 29,227 per 10 grams down Rs 37. Spot gold on MCX was trading lower at Rs 28,800 per 10 grams.

Investors around the globe took an breather, and were awaiting a statement by the Federal Reserve which is due later today, following a two day policy meeting.

Internationally, gold was at $ 1,642 a troy ounce.

GoodReturns.in