Amid a weak global trend, gold futures traded lower by Rs 122 at Rs 30,384 per 10 grams as speculators scaled down their positions.
Gold for delivery in June dropped Rs 122 or 0.40 per cent to Rs 30,384 per 10 grams in a business turnover of five lots at the Multi Commodity Exchange. In a similar fashion, the metal for delivery in April contract was trading down Rs 115 or 0.38 per cent to Rs 30,264 per 10 grams in 184 lots.
Analysts said the fall in gold futures was mostly in line with a weak trend overseas as dollar remained strong after comments from Federal Reserve Chairman fanned concerns over faster-than-expected hikes in US interest rates.
Meanwhile, gold prices fell 0.27 per cent to $1,314.20 an ounce in Singapore.
