Bullion futures opened lower on Monday as profit booking seemed to stall gold’s progress after the weekend rally.
On the MCX, the August contracts that closed at a record Rs 30,105 for 10 gm on Saturday, dropped by half a per cent to Rs 29,922. July contracts slid to Rs 29,748 (Rs 29,917) and June contracts to Rs 29,691 (Rs 29,860).
In Singapore, gold was quoted 0.31 per cent lower at $1,621.40 a troy ounce, while the US gold futures were unchanged at $,1623.
Silver August contracts slid to Rs 55,436 a kg from Rs 55,891, while June contracts dipped to Rs 54,036 (54,505) and November to Rs 57,000 (Rs 57,437).