Gold futures edged down on MCX as market players looked ahead to the outcome of the Federal Reserve's policy meeting for insight on the timing of the next US rate hike and clues on how the central bank plans to pare back its balance sheet.
The contract for August delivery was trading at Rs 28321.00, down by 0.55% or Rs 157.00 from its previous closing of Rs 28478.00. The open interest of the contract stood at 5598 lots.
The contract for October delivery was trading at Rs 28565.00, down by 0.51% or Rs 146.00 from its previous closing of Rs 28711.00. The open interest of the contract stood at 2303 lots on MCX.