Gold futures decline 0.25% on profit-booking

Weak overseas trend influences prices

Gold prices fell by 0.25% to Rs 31,732 per 10 grams in futures trade today as speculators preferred to book profits at prevailing higher levels amid a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in October fell by Rs 79, or 0.25%, to Rs 31,732 per 10 grams, with a business turnover of 4,647 lots.

December gold moved down by Rs 75, or 0.23%, to Rs 32,066 per 10 grams, with a business turnover of 679 lots.

Globally, spot gold fell as much as 0.4% to $1,753.75 an ounce in Singapore today.

Marketmen said besides profit-booking by speculators at prevailing higher levels, a weak trend in the global markets after the metal slipped from a six-month high, mainly led to the fall in gold prices at futures trade.