Gold futures prices down on weak global cues,profit-booking

Amid a weak trend overseas and profit-booking by speculators,gold prices fell 0.49% in futures trade.

Written by PTI | New Delhi | Published: May 10, 2013 12:02:49 pm

Amid a weak trend overseas and profit-booking by speculators,gold prices fell 0.49 per cent in futures trade today as speculators trimmed positions.

At the Multi Commodity Exchange,gold for delivery in far-month August contracts traded Rs 134,or 0.49 per cent,down at Rs 27,288 per ten gram in 1,572 lots.

Likewise,the metal for delivery in June shed Rs 100,or 0.37 per cent,to Rs 27,066 per ten gram,in a business turnover of 175 lots.

Analysts said besides profit-booking by participants,a weak trend in the overseas markets,mainly put pressure on the gold prices at futures trade here.

Globally,gold fell USD 15.90,or 1.08 per cent,to USD 1,458.50 an ounce in New York in yesterday’s trade.

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