Gold extends losses in futures trade, fell by 0.36% to Rs 27,565 per 10 grams

Precious metal prices fell by 0. 36% to Rs 28, 565 per 10 grams in futures trade these days, in tune with a weakening trend in abroad markets.

At the Multi Commodity Exchange, February precious metal fell by Rs 71, or 0. 36%, in order to Rs 27, 565 per 10 grams in four, 712 lots. The April contract lost Rs 84, or even 0. 30%, to Rs 27, 858 per 10 gr in 153 lots.

Market analysts said a subdued trend in gold and silver in global markets after ratings agency Fitch warned of the possible downgrade of France kept investors on the edge concerning the situation in Europe, eroding demand.