Gold futures fall 0.11% on profit-booking, global cues

Gold prices drifted 0.11 per cent lower to Rs 31,613 per 10 grams in futures trade Tuesday as speculators booked profits at prevailing levels amid a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in February fell Rs 35, or 0.11 per cent, to Rs 31,613 per 10 grams in a business turnover of 1,672 lots.

Analysts attributed the fall in gold futures to profit-booking by participants at existing levels and a weak trend overseas.

Globally, gold fell 0.54 per cent to USD 1,282.40 an ounce in New York.