Gold futures fall by Rs 198 on profit-booking, global cues

Gold prices fell by Rs 198 to Rs 29,197 per 10 grams in futures trade today due to profit booking by participants at prevailing high levels amid weak global trends.
At the Multi Commodity Exchange, gold for delivery in February 2018 lost Rs 198, or 0.67 per cent, at Rs 29,197 per 10 grams in a business turnover of 330 lots.
Similarly, the metal for delivery in December eased Rs 189, or 0.65 per cent, to Rs 29,020 per 10 grams in a modest volume of just five lots.
Analysts attributed the fall in gold futures to profit- booking by traders at the existing level and the metal's losses in global market in view of a stronger dollar.

Globally, the gold was trading 0.46 per cent lower at USD 1,273.70 an ounce in Singapore today.