Gold futures decline on profit-booking, global cues

Gold prices declined by Rs 54 to Rs 21,925 per 10 grams in futures trade today on profit booking by speculators amid a weak global trend. 

At the Multi Commodity Exchange, gold for delivery in June declined by Rs 54, or 0.25% to Rs 21,925 per 10 grams, in a business turnover of 1,319 lots. 

Likewise, the metal for August delivery contract lost Rs 46, or 0.21% to Rs 22,168 per 10 grams, with a business volume of 140 lots. 

Analysts said besides profit-booking by speculators, subdued spot markets demand at prevailing high levels and a weakening global trend led to the fall in gold futures prices.

 

Meanwhile, gold traded lower by 0.04% to $1,496.30 an ounce in Asian region.