Gold down 0.9% on weak global cues, profit-booking
Metal for delivery in far-month April was down by 0.85%
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Gold prices fell sharply by Rs 264 to Rs 27,600 per tens in futures trade today amid a weak trend overseas and profit-booking by speculators.
At the Multi Commodity Exchange, gold for delivery in February fell by Rs 264, or 0.95%, to Rs 27,600 per 10 grams in a business turnover of 497 lots.
Likewise, the metal for delivery in far-month April was down by Rs 237, or 0.85%, to Rs 27,764 per 10 grams in 42 lots.
Analysts said besides profit-booking by speculators, a weak trend in the overseas markets before Federal Reserve policy makers meet, weighed on gold prices at futures trade here.
Globally, gold dropped 0.7% to USD 1,272.44 an ounce Singapore today, the lowest level since January 19.
At the Multi Commodity Exchange, gold for delivery in February fell by Rs 264, or 0.95%, to Rs 27,600 per 10 grams in a business turnover of 497 lots.
Likewise, the metal for delivery in far-month April was down by Rs 237, or 0.85%, to Rs 27,764 per 10 grams in 42 lots.
Analysts said besides profit-booking by speculators, a weak trend in the overseas markets before Federal Reserve policy makers meet, weighed on gold prices at futures trade here.
Globally, gold dropped 0.7% to USD 1,272.44 an ounce Singapore today, the lowest level since January 19.
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First Published: Jan 27 2015 | 12:12 PM IST