Gold futures down on profit-taking,global cues

At the Multi Commodity Exchange,gold for delivery in December declined by Rs 93,or 0.34 per cent,to Rs 27,477 per 10 grams,with a business turnover of 7,558 lots.

Similarly,the metal for delivery in February lost Rs 82,or 0.29 per cent,to Rs 27,769 per 10 grams,with a trade volume of 228 lots.

Market analysts said besides profit-booking by speculators following sluggish demand at existing higher levels in the spot market and reports of a weakening global trend mainly led to fall in gold prices at futures trade here.

Meanwhile,gold fell by 0.5 per cent to USD 1,716.68 an ounce in Melbourne. Earlier,the metal had gained 0.2 per cent to USD 1,728.70 an ounce,the highest level since September 23.