Gold futures fell Rs 85 to Rs 28,796 per 10 grams today as participants trimmed positions due to profit-booking and a weak global trend.
Gold for delivery in August was trading down Rs 85 or 0.29 per cent at Rs 28,796 per 10 grams in a business turnover of 22 lots at the Multi Commodity Exchange.
Gold for delivery in June too fell Rs 83 or 0.29 per cent to Rs 28,622 per 10 grams in a business volume of 421 lots.
Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas as a bounce in the dollar prompted some buyers to cash in gains after its biggest one-day rally in nearly a year.
Meanwhile, gold prices retreated as much as 1.12 per cent to $1,246.80 an ounce in New York yesterday.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.