a stronger dollar reduced the appeal of the precious metal as an investment option.
In addition, subdued demand in the domestic spot market at prevailing levels put pressure on gold prices in
futures trade.
At the Multi Commodity Exchange, gold for delivery in February fell by Rs 155, or 0.54%, to Rs 28,716 per 10
grams, with an open interest for 3,175 lots.
In a similar fashion, the metal for delivery in far-month April shed Rs 156, or 0.53%, to Rs 29,019 per 10
grams, with a trading volume of 85 lots.
Market analysts said besides profit-booking by speculators following sluggish demand at existing higher levels in the spot market and reports of a weakening global trend mainly led to fall in gold prices at futures trade here.
However, weakness in the rupee, which slumped to a fresh record low of Rs 53.75 per dollar in early trade
today, capped the losses.
Meanwhile, gold fell by 2.07% to an almost seven-week low of US $ 1,630.90 an ounce in Singapore.
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