Gold futures tumble to Rs 23,452/10 gms

Gold prices tumbled by Rs 399 to Rs 23,452 per 10 grams in futures trade on Monday,as speculators off-loaded their positions on the back of a weakening global trend.

At the Multi Commodity Exchange,gold for delivery in December declined by Rs 399,or 1.67 per cent to Rs 23,452 per 10 grams,with an open interest of a single lot.

Similarly,the yellow metal for delivery in June plunged by Rs 347,or 1.52 per cent to Rs 22,473 per 10 grams,with a business turnover of nine lots.

Analysts attributed the steep fall in gold futures to a weakening trend overseas,where the metal dropped by USD 17.20 dollar to USD 1548.50 an ounce.