Gold rates dropped 0.44% to Rs 28,524 per 10 gram in futures trade
today, as speculators engaged in cutting down their places, taking
feeble signals from abroad markets.

Also, a declining tendency on the spot markets accompanying slackened
demand because of end of wedding season had a pessimistic impact on gold
futures here.

At the Multi Commodity Exchange (MCX), the costly metal for delivery in
the next month dropped Rs 127, or 0.44%, to Rs 28,524 per 10 gram in a
biz income of 1,392 lots.

In the same way, the yellow metal for delivery in the month of August
declined Rs 122, or 0.43%, to Rs 28,933 per 10 gram in 96 lots.

Marketmen stated that the decline in gold rates at futures trade was
mostly accredited to a deteriorating trend out of the country.

In the meantime, gold in Singapore dropped 1% to rule at $1,589.48 per ounce, the lowest value since January 3.