NEW DELHI, May 16: Gold futures fell by 1.10 per cent to Rs 28,096 per 10 grams today as participants indulged in reducing exposures, largely in tandem with a global trend.
At the Multi Commodity Exchange, gold for delivery in June, fell by Rs 312, or 1.10 per cent, to trade at Rs 28,096 per 10 grams in a turnover of 1,669 lots.
Similarly, the metal for delivery in August fell by Rs 285, or 1.03 per cent, to Rs 27,463 per 10 grams in 92 lots.
Globally, gold lost as much as 0.68 per cent to USD 1,296.80 an ounce in New York last night.
Analysts said apart from a weakening trend overseas, appreciating rupee against the US dollar, making imports cheaper, also put pressure on gold prices at futures trade. (PTI)
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