Gold prices fell marginally by 0.16 per cent to Rs 28,535 per ten grams at the futures trade today as speculators trimmed their positions, taking weak cues from the global market.
However, token buying by retailers at the spot market on the auspicious occasion of ‘Akshaya Tritiya’ day limited the losses.
On the Multi Commodity Exchange, gold for delivery in June shed Rs 45 or 0.16 per cent to Rs 28,535 per ten grams in a business turnover of 1,628 lots.
In a similar fashion, the precious metal for delivery in far-month August fell Rs 10 or 0.04 per cent to Rs 27,910 per ten grams in 66 lots.
At the Chennai spot market, gold traded lower at Rs 29,950 per ten grams in the opening trade.
Analysts said that the fall in yellow metal prices at the futures trade was mostly in tandem with a weak trend overseas but token buying by retailers at the spot market on account of Akshaya Tritiya, considered to be an auspicious day for buying gold and silver, restricted the fall.
Meanwhile, gold declined 0.2 per cent to $1,282.25 an ounce in Singapore.