Gold futures fall on profit-booking, weak global cues

Amid profit-booking by speculators at prevailing levels and subdued trend overseas, gold futures fell by 0.70% today to Rs 29,763 per 10 grams.

At the MCX, gold for delivery in August fell by Rs 211, or 0.70%, to Rs 29,763 per 10 grams, with a business turnover of 3,503 lots.

The October contract shed Rs 208, or 0.69%, to Rs 30,070 per 10 grams, with a business turnover of 238 lots.

Analysts said besides profit-booking by speculators at prevailing higher levels and fall in domestic demand, a weak trend overseas put pressure on gold futures here.

Meanwhile in Singapore, gold traded 0.03% lower at $1,571.80 an ounce.