Gold futures fall amid lower physical demand

Posted By: Religare
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Gold futures fall amid lower physical demand
Gold futures fell in the domestic market on Thursday as investors and speculators exited positions in the precious metal amid lower physical demand for the bullion in the domestic spot market.

Further, caution ahead of key US data including industrial output and jobless claims to be released today and speech of Federal Reserve Chairman Janet Yellen where she may offer cues over the country's monetary policy outlook weighed on sentiment.

Gold futures for June 2014 contract, at MCX, is trading at Rs. 28,628 per 10 grams, down by 0.26 per cent, after opening at Rs. 28,680, against the previous closing price of Rs 28,704. It touched an intra-day low of Rs 28,607. (At 11:51 AM).

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