Gold futures fall Rs 98 on weak global cues, profit-booking

Amid a weakening global trend and profit-booking, gold futures fell Rs 98 to Rs 28,018 per 10 gm today as participants trimmed their positions.

In futures trade, gold for delivery in August contracts was trading Rs 98 or 0.35 per cent lower at Rs 28,018 per 10 gm in a business turnover of 514 lots at the Multi Commodity Exchange.

On similar lines, the metal for delivery in far-month October Rs 77 or 0.27 per cent to Rs 28,210 per 10 gm in 3 lots.

Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas coupled with profit- booking.
 

Meanwhile, gold prices in global market retreated as much as 0.39 per cent to USD 1,220.20 an ounce in Singapore today.