New Delhi: Gold prices retreated by Rs 839 to Rs 95,073 per 10 grams in futures trade on Friday as the US dollar strengthened amid a potential de-escalation of the US-China trade war.
On the Multi Commodity Exchange (MCX), gold contracts for June delivery dropped by Rs 839 or 0.87 per cent to Rs 95,073 per 10 grams in a business turnover of
18,007 lots.
In addition, the August contract of the precious metal dipped Rs 760 or 0.79 per cent to trade at Rs 95,858 per 10 grams on the bourse.
Analysts attributed the fall in gold prices to weak global cues.
On the global front, gold futures slipped by $40.26 or 1.20 per cent to $3,308.34 per ounce in New York.
Meanwhile, gold prices in spot markets in Mumbai dropped by Rs 655 to Rs 95,631 per 10 grams (99.9 purity). The standard gold (99.5 purity) declined by Rs 652 to Rs 95,248 per 10 grams.
Bullion markets were closed in Delhi due to a bandh called by traders to protest against the Pahalgam terror attack.