Gold futures fall 0.19% on profit-booking, global cues

Gold futures fall 0.19% on profit-booking, global cues
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New Delhi: Gold prices drifted 0.19 per cent lower to Rs 29,734 per 10 grams in futures trade as speculators booked profits at prevailing levels amid a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in April fell Rs 57, or 0.19 per cent, to Rs 29,734 per 10 grams in a business turnover of 10 lots.

Similarly, metal for delivery in February contracts traded Rs 31, or 0.10 per cent, lower at Rs 29,791 per 10 grams in 294 lots.

Analysts attributed the fall in gold futures to profit-booking by participants at existing levels and a weak trend overseas as higher dollar reduced the precious metal’s appeal as a safe-haven.

Globally, gold fell 0.19 per cent to USD 1,335.40 an ounce in Singapore.

PTI