Gold futures decline Rs 76 on profit-booking

Gold prices fell by Rs 76 to Rs 29,586 per 10 grams in futures trade today as participants indulged in profit-booking at prevailing levels even as the metal strengthened overseas.
In futures trade at the Multi Commodity Exchange, gold for delivery in October shed Rs 76, or 0.26 per cent, to Rs 29,586 per 10 grams in a business turnover of 405 lots.
Similarly, the metal for delivery in December fell by Rs 63, or 0.21 per cent, to Rs 29,700 per 10 grams in nine lots.
Analysts attributed the fall in gold futures to profit-booking by traders at existing levels but a firm trend in the precious metals, squeezed the fall.

Globally, gold was trading a shade higher at USD 1,310.60 an ounce in Singapore today.