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BUSINESS
There is a weakening trend in the overseas markets where gold retreated as stocks advanced, easing demand for the metal, which weighed on gold in futures trade, Analysts said.
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Updated : Mar 21, 2018, 04:25 AM IST
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Gold prices fell Rs 91 to Rs 29,135 per 10 grams in futures trade on Wednesday as participants trimmed their positions, largely in line with a weak trend overseas.
At Multi Commodity Exchange of India (MCX), gold for delivery in April was trading lower by Rs 91, or 0.31%, to Rs 29,135 per 10 grams, in a business turnover of 474 lots.
Also, the metal for delivery in June shed Rs 89, or 0.30%, to Rs 29,379 per 10 grams in 15 lots.
Analysts said there is a weakening trend in the overseas markets where gold retreated as stocks advanced, easing demand for the safe-haven asset, which weighed on the precious metal in futures trade.
Globally, gold fell 0.4% to $1,226.89 (nearly Rs 83,035.92) an ounce in Singapore.
