Gold eases to Rs 18,490 per ten gram

Gold prices declined by Rs 108,or 0.58 per cent to Rs 18,490 per ten gram in futures trading on Friday,as traders reduced their positions at existing higher levels amid less demand in spot markets.

At the Multi Commodity Exchange counter,gold for December contract fell by Rs 108,or 0.58 per cent to Rs 18,490 per ten gram,with an open interest of 90 lots.

The metal for delivery in June-month contract also weakened by Rs 48,or 0.26 per cent to Rs 18,340 per ten gram,with a business volume of 11,501 lots.

Marketmen said,fresh offloading by speculators due to fall in demand at existing higher levels lowered gold prices at futures trade.