Gold futures decline Rs 59 on profit-booking

Gold prices fell by Rs 59 to Rs 27,855 per 10 ten grams in futures trading today as participants indulged in profit-booking at prevailing levels even as the metal strengthened overseas.

At the Multi Commodity Exchange, gold for delivery in far-month April declined by Rs 59, or 0.21 per cent to Rs 27,855 per 10 grams in a business turnover of six lots.

Similarly, the metal for delivery in February eased by Rs 8 or 0.03 per cent to Rs 27,903 per ten grams in 361 lots.

Analysts attributed the fall in gold futures to profit-booking by traders at existing levels but a firm trend in global market, capped the fall.
 

Globally, gold rose 0.4 per cent to USD 1,178.36 an ounce in Singapore.