The hopes of the US economy recovery may dent the gold sentiment further. Strengthening of dollar against euro and other major currencies weighed on the precious metal. International gold was seen at $1,594 an ounce.
Domestically, trading of futures were closed on account of Holi festival. A recent downtrend seen in futures may be due to profit booking by speculators and lower demand in the markets amid weak overseas trend
As on March 26, Mumbai spot gold of 99.9% purity was seen at Rs 29,965 per 10 grams and gold of 99.5% was seen at Rs 29,830 per 10 grams.