Gold futures decline 0.2% on profit-booking
Speculators booked profits at prevailing levels amid a weak global trend
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Gold prices declined by 0.23% to Rs 27,491 per ten grams in futures trading today as speculators booked profits at prevailing levels amid a weak global trend.
At the Multi Commodity Exchange, gold for delivery in December declined by Rs 63, or 0.23%, to Rs 27,498 per ten grams in a business turnover of 742 lots.
Similarly, the metal for delivery in far-month February next year traded lower by Rs 63, or 0.23%, to Rs 27,683 per ten grams in six lots.
Market analysts said profit-booking by speculators and a weakening trend overseas led to decline in gold prices at futures trade.
Meanwhile, gold lost 0.14% to $1,247.60 an ounce in Singapore.
At the Multi Commodity Exchange, gold for delivery in December declined by Rs 63, or 0.23%, to Rs 27,498 per ten grams in a business turnover of 742 lots.
Similarly, the metal for delivery in far-month February next year traded lower by Rs 63, or 0.23%, to Rs 27,683 per ten grams in six lots.
Market analysts said profit-booking by speculators and a weakening trend overseas led to decline in gold prices at futures trade.
Meanwhile, gold lost 0.14% to $1,247.60 an ounce in Singapore.
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First Published: Oct 22 2014 | 11:35 AM IST