Gold futures trade lower on MCX

              Gold futures declined on Monday as speculators continued to offload their positions in domestic market on expectations that demand for safe haven assets will contract as the global economy improves. Further upbeat unemployment claims signaled progress in the US labour market recovery, raising concerns that the Federal Reserve may taper its quantitative easing program, affected the prices.

          The contract for June delivery was trading at Rs 27,094.00/10 GRMS, down by 2.98% or Rs 831.00 from its previous closing of Rs 27,925.00/10 GRMS. The open interest of the contract stood at 15,037 lots

           The contract for August delivery was trading at Rs 27,528.00/10 GRMS, down by 2.88% or Rs 815.00 from its previous closing of Rs 28,343.00/10 GRMS. The open interest of the contract stood at 1,974 lots on MCX.[via]

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