Gold drifted lower by Rs 74 to Rs 30,048 per 10 grams in futures trade on June 23 as participants reduced their positions, largely in line with a weak trend overseas.

At Multi Commodity Exchange, gold for delivery in August was trading lower by Rs 74 or 0.25 per cent at Rs 30,048 per 10 grams in a business turnover of 215 lots.

Also, the metal for delivery in far-month October shed Rs 67 or 0.22 per cent to Rs 30,308 per 10 grams in 2 lots.

Analysts said a weak trend in the overseas markets where gold dropped for a fourth straight day just before the start of Britain’s referendum on its futures in the European Union, weighed on the precious metal in futures trade here.

Globally, gold fell 0.06 per cent to USD 1,265.20 an ounce in Singapore.