Gold futures showed a negative trade on MCX as speculators offloaded their positions driven by weak trend in domestic market. Further, as investors sold off worrying about an early end to the Federal Reserve's massive bond-buying stimulus on the back of strong U.S. data, put pressure on the Gold futures. However, the prices found some support from weakness in the US dollar, as dollar-priced commodities became less expensive to investors holding other currencies.
The contract for October delivery was trading at Rs 27868.00 /10 GRMS, down by 0.32% or Rs 89.00 from its previous closing of Rs 27957.00/10 GRMS. The open interest of the contract stood at 1344 lots on MCX.
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