Gold futures down at Rs 28,050 per 10 gm

Gold prices fell 0.1 per cent to Rs 28,050 per ten gram at the futures trade in line with a weak overseas trend. On the Multi Commodity Exchange, gold for August delivery fell Rs 28 or 0.1 per cent to trade at Rs 28,050 per 10 grams in a turnover of 11 lots.

Similarly, June contract 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 the Delhi spot market yesterday.

Analysts said weakness in the overseas market, 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 the futures trade. Globally, gold lost 0.3 per cent to $1,285.96 an ounce in Singapore.

PTI