Gold futures down 0.2% on weak global cues
Profit-booking by speculators also affected prices
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<a href="http://www.shutterstock.com/pic-70309495/stock-photo-background-with-gold-of-coins.html" target="_blank">Gold</a> image via Shutterstock
Gold futures fell by 0.25% to Rs 30,555 per 10 grams today as speculators locked-in gains amid a subdued trend overseas.
At the Multi Commodity Exchange, gold prices for delivery in April fell by Rs 76, or 0.25%, to Rs 30,555 per 10 grams in a business turnover of 441 lots.
Metal prices for delivery in June declined by a similar margin to trade at Rs 29,950 per ten grams in 12 lots.
Market analysts said the fall in gold futures was mostly due to profit-booking by speculators and a weak trend overseas amid signs that the rally was overdone and physical buying in China slowed.
Meanwhile, gold traded a shade lower at $1,349.81 an ounce in Singapore from $1,350.58 yesterday, when the metal reached $1,354.87, the highest level since October 30, as Ukraine said that Russia has threatened to seize its war ships in Crimea.
At the Multi Commodity Exchange, gold prices for delivery in April fell by Rs 76, or 0.25%, to Rs 30,555 per 10 grams in a business turnover of 441 lots.
Metal prices for delivery in June declined by a similar margin to trade at Rs 29,950 per ten grams in 12 lots.
Market analysts said the fall in gold futures was mostly due to profit-booking by speculators and a weak trend overseas amid signs that the rally was overdone and physical buying in China slowed.
Meanwhile, gold traded a shade lower at $1,349.81 an ounce in Singapore from $1,350.58 yesterday, when the metal reached $1,354.87, the highest level since October 30, as Ukraine said that Russia has threatened to seize its war ships in Crimea.
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First Published: Mar 04 2014 | 11:55 AM IST