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Gold futures plunge Rs 394 on global cues, profit-booking

Press Trust of India  |  New Delhi 

Gold prices tumbled Rs 394 to Rs 31,249 per 10 grams in futures trade Tuesday as participants indulged in off-loading their exposure in line with a weak trend overseas amid profit-booking at prevailing levels.

In futures trade at the Multi Commodity Exchange, gold for delivery in December was trading sharply lower by Rs 394 or 1.25 per cent, at Rs 31,249 per 10 grams in a business turnover of 9,586 lots.

Analysts said besides profit-booking by traders at the existing level and weakness in precious metals, led to the fall in gold prices at futures trade here.

Globally, gold fell 1.39 per cent to USD 1,187 an ounce in yesterday.

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

First Published: Tue, October 09 2018. 12:00 IST