Gold price fall in morning trade

New Delhi: Gold prices fell by Rs 46 or 0.16 per cent to Rs 28,589 per 10 grams in futures trade today as participants trimmed their positions after a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in June declined by Rs 46, or 0.16 per cent, to Rs 28,589 per ten grams in business turnover of 255 lots. The far-month August contract of the precious metal traded lower by Rs 42, or 0.15 per cent to Rs 28,755 per ten grams in five lots.

Analysts said trimming of positions by speculators after a weakening trend in overseas markets influenced the gold prices at futures trade here. Meanwhile, gold fell 0.29 per cent to USD 1,252 an ounce in Singapore.