Gold futures retreat 0.51%, in line with global trend

Gold prices declined 0.51% to Rs 27,023 per 10 grams in futures trade on Tuesday as speculators offloaded positions amid a weak global trend.

Gold prices for delivery in June contracts fell by Rs 138, or 0.51%, to Rs 27,023 per 10 grams in business turnover of 3,439 lots in futures trading at the Multi Commodity Exchange.

Similarly, metal prices for delivery in August contracts traded lower by Rs 124, or 0.45%, to Rs 27,275 per 10 gram in 417 lots.

Market analysts attributed the fall to a weak global trend.

Meanwhile, gold traded lower at $1,205.59 an ounce in Singapore.