Gold futures slide on weak global cues, profit-booking

Gold futures slide on weak global cues, profit-booking
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New Delhi: Gold futures slipped marginally to Rs 29,198 per 10 grams as participants cut bets amid a weak global trend.

Besides, profit-booking by speculators also weighed on prices.

At Multi Commodity Exchange, prices for delivery in February contracts fell Rs 19, or 0.07 per cent, to Rs 29,198 per 10 grams in a business turnover of 658 lots.

Also, the yellow metal for delivery in far-month April declined Rs 20, or 0.07 per cent, to Rs 29,130 per 10 grams in 35 lots.

Analysts attributed the fall in prices to a weak trend overseas and profit-booking by speculators at prevailing levels.

Meanwhile, gold traded 0.05 per cent down at USD 1,318.10 an ounce in Singapore.

PTI