Gold down 0.15% on profit-booking, weak global cues
Speculation that the US Federal Reserve will refrain from additional stimulus measures influences prices
Amid profit-booking by speculators after recent gains and a weak trend overseas, gold futures today fell by 0.15% to Rs 30,802 per 10 grams.
At the Multi Commodity Exchange, gold for delivery in October fell by Rs 45, or 0.15%, to Rs 30,847 per 10 grams, with a business turnover of 1,296 lots.
December gold shed Rs 47, or 0.15%, to Rs 31,180 per 10 grams, with a business turnover of 106 lots.
Marketmen said besides profit-booking by speculators at prevailing record levels, a weak trend overseas on speculation that the US Federal Reserve will refrain from additional stimulus amid signs that the world's largest economy is improving, put pressure on the gold prices at futures trade.
Meanwhile in New York, gold traded $10.50 lower at $1,656.10 an ounce in yesterday's trade.