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Gold futures drops below Rs 30,000 in thin trading
Improving signs of the economy will impact on the gold sentiment as US may stop considering stimulus measures which will dent the demand for the yellow metal.
People may shift their focus to other riskier assets, including equities.
International gold dropped near to hit near two-month low. Spot gold was seen at $1,607 an ounce.
At the MCX, Gold futures, for the April 2013 contract, is trading at Rs 29,980 per 10 grams, lower by Rs 72 or 0.24% at 11.10 am IST.
Recent swings in gold prices have tarnished its reputation as a safe haven, and bullion has moved in tandem with riskier assets.
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