Gold futures decline Rs 79 on profit-booking

Gold prices fell by Rs 79 to Rs 27,587 per 10 grams in futures trade today as participants went for profit-booking at prevailing levels amid a weak trend overseas.

In futures trade at the Multi Commodity Exchange, gold for delivery in February shed Rs 79, or 0.29 per cent, at Rs 27,587 per 10 grams in a business turnover of 280 lots.

Similarly, metal for delivery in April eased Rs 40, or 0.14 per cent, to Rs 27,569 per 10 grams in a modest volume of just one lot.

Analysts attributed the fall in gold futures to profit-booking by traders at the existing level and weakness in precious metals in the global market.
 

Globally, gold was trading a shade lower at USD 1,161.60 an ounce in Singapore today.