Gold futures fall on weak Asian cues

Gold futures fell by 0.16% to Rs 22,460 per 10 grams today after speculators booked profits, amid a weak trend in the Asian region.

At the Multi Commodity Exchange, gold for August delivery shed Rs 35, or 0.16%, to Rs 22,460 per 10 grams, with a business turnover of 1,416 lots.

October delivery traded Rs 32, or 0.14%, to Rs 22,730 per 10 grams, with a business volume of 75 lots.

Market analysts said apart from a subdued trend in gold prices overseas, profit booking by speculators after yesterday's gain also kept pressure on gold prices at futures trade here.

 

Meanwhile, the yellow metal fell by $3.40 to $1,525.80 an ounce in the Asian trade.