Easing concerns over the crises in Ukraine after an agreement between the West and Russia last week to ease the conflict in Ukraine dimmed the safe haven demand for the bullion. Further, concerns that slowing economic growth in China, the world's top bullion consumer, may hit the demand for the precious metal, also weighed on sentiment.
Gold futures for June 2014 contract, at MCX, is trading at Rs. 28,322 per 10 grams, down by 0.64 per cent, after opening at Rs. 28,425, against the previous closing price of Rs 28,505. It touched an intra-day low of Rs 28,282. (At 11:10 AM).
Dion Global Solutions Ltd.