Gold prices traded lower by Rs 49 to Rs 28,803 per 10 grams in futures trade today on sluggish domestic demand at prevailing higher levels and a weak trend in overseas markets.
At the Multi Commodity Exchange,gold for delivery in August fell by Rs 49,or 0.17 per cent,to Rs 28,803 per 10 grams,with a business turnover of 199 lots.
In a similar fashion,the yellow metal for delivery in June shed Rs 44,or 0.15 per cent,to Rs 28,402 per 10 grams in 3,569 lots.
Market analysts said besides sluggish demand at prevailing higher levels,weak trend in global markets mainly led to a decline in gold prices at futures trade.
Meanwhile,gold fell 0.6 per cent to USD 1,584.35 an ounce in Singapore.