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Gold futures drop 0.27% on weak global cues, profit-booking

Press Trust of India  |  New Delhi 

Gold traded lower by

0.27 per cent at Rs 32,138 per 10 grams Tuesday amid a weakening global trend and profit-booking by speculators.

Gold for delivery in April was trading lower by Rs 86, or 0.27 per cent, at Rs 32,138 per 10 grams in a business turnover of 828 lots at the Multi Commodity Exchange.

In a similar manner, gold to be delivered in August contracts fell by Rs 81, or 0.25 per cent, to Rs 32,450 per 10 grams in a business turnover of 33 lots.

Analysts said the fall in gold was mostly in tandem with a weak trend overseas where it slipped from over three-week high hit in the previous session and profit-taking by speculators.

Globally, gold prices fell 0.11 per cent to USD 1,320.90 an ounce in Tuesday. It had touched over three-week high of USD 1,322.70 an ounce Monday, its highest since February 28 on Monday.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 26 2019. 11:30 IST