Gold futures slip on profit-booking

Gold succumbed to profit-booking by speculators with prices falling by 0.20% in futures trade today even as the precious metal strengthened overseas.

At the Multi Commodity Exchange, the April contract for gold traded lower by Rs 56, or 0.20%, to Rs 28,203 per 10 grams with a business turnover of 1,000 lots.

The June contract lost Rs 53, or 0.19%, to Rs 28,543 per 10 grams in 24 lots.

Meanwhile, the yellow metal rose 0.7% to $1,734.57 an ounce at midday today in Singapore.

Analysts said profit-booking by speculators at prevailing higher levels mainly led to the decline in gold futures prices here but a firming trend in global market, capped the losses.