Gold futures exhibit a negative trade on MCX

Gold futures showed a negative trade on MCX as traders offloaded their positions driven by weak trend in domestic market. The prices fall further due to dollar gains against Indian Rupee which made the yellow metal’s import costlier. However, a firming trend in the overseas markets, as heightened tensions between the West and Russia over Ukraine raised the metal's safe-haven appeal, limited the downside. The contract for June delivery was trading at Rs 28781.00, down by 0.61% or Rs 178.00 from its previous closing of Rs 28959.00. The open interest of the contract stood at 9469.00 lots. The contract for August delivery was trading at Rs 28504.00, down by 0.54% or Rs 155.00 from its previous closing of Rs 28659.00. The open interest of the contract stood at 1508.00 lots on MCX.