Financials News

Gold futures decline Rs 27, silver down Rs 44 on profit-booking

Gold futures decline Rs 27, silver down Rs 44 on profit-booking

New Delhi: Gold prices fell by Rs 27 to Rs 29,078 per 10 gram in futures trade on Wednesday as participants indulged in profit-booking at prevailing levels amid a weak trend overseas.

In futures trade at the Multi Commodity Exchange, gold for delivery in October shed Rs 27 or 0.09 per cent to Rs 29,078 per 10 gram in a business turnover of 383 lots.

Similarly, metal for delivery in far-month December contracts eased by Rs 15 or 0.05 per cent to Rs 29,212 per 10 gram in seven lots.

Analysts attributed the fall in gold futures to profit- booking by traders at existing levels and weakness in the precious metals in global market as the US dollar strengthened against a basket of major currencies ahead of an annual meeting of central bankers this week.

Globally, gold was trading 0.53 per cent lower at USD 1,284.40 an ounce in New York on Tuesday.

PTI