Gold futures down on weak Asian cues, profit-booking

PTI Updated - November 12, 2017 at 09:58 PM.

Gold futures prices fell by 0.40 per cent to Rs 27,050 per 10 grams today, tracking a weak trend overseas.

In addition, profit-booking by speculators also kept pressure on the gold prices at futures trade here.

At the Multi Commodity Exchange, gold for delivery in December fell by Rs 228 or 0.82 per cent to Rs 27,330 per 10 grams, with a business turnover of 1,235 lots.

Similarly, the metal for delivery in far-month February edged lower by Rs 220 or 0.80 per cent to Rs 27,650 per 10 grams, with a trade volume of 52 lots.

Market analysts said offloading of positions by speculators, taking weak cues from Asian trade after the dollar strengthened, curbing demand for the precious metals.

They said, profit-booking at prevailing levels by speculators also put pressure on the gold prices at futures trade here.

Meanwhile, gold fell by 1.3 per cent to $1,723.90 an ounce in Singapore.

Published on October 31, 2011 05:14