Gold futures fall on profit-booking,weak global cues

Gold for delivery in August fell by Rs 140,or 0.46 per cent,to Rs 30,149 per 10 grams.

Written by Agencies | New Delhi | Published: June 21, 2012 11:21:47 am

Amid profit-booking by speculators after recent gains and a weakening trend overseas,gold futures today fell to Rs 30,149 per 10 grams.

At the Multi Commodity Exchange,gold for delivery in August fell by Rs 140,or 0.46 per cent,to Rs 30,149 per 10 grams,with a business turnover of 1,164 lots.

Similarly,the yellow metal for delivery in October shed Rs 135,or 0.44 per cent,to Rs 30,457 per 10 grams,with a business turnover of 63 lots.

Analysts said besides profit-booking by speculators at prevailing higher levels,a weak trend overseas after the Federal Reserve extended stimulus measure for six months to boost the flagging economy put pressure on gold futures here.

Meanwhile in Singapore,gold traded 0.6 per cent lower at USD 1,597.50 an ounce.

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