Gold futures fell in the domestic market on Monday as investors and speculators exited positions in the precious metal tracking a weak trend in the overseas market amid concerns that the US Federal Reserve may start tightening monetary policy as the world’s biggest economy improves, dimming the appeal of the bullion as a store of value.
Gold futures for August 2014 contract, at MCX, is trading at Rs. 27,464 per 10 grams, down by 0.34 per cent, after opening at Rs. 27,482, against the previous closing price of Rs 27,557. It touched an intra-day low of Rs 27,452.
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