Gold down in futures trade on weak global cues, profit-booking

Oct 22 2013, 12:14 IST
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SummaryGlobally, gold traded USD 3.30, or 0.25 per cent, lower at USD 1,313.30 an ounce in Singapore today.

Gold prices moved down by 0.11 per cent to Rs 29,496 per 10 gm in futures trade today as participants indulged in trimming their positions, tracking a weak trend in the global market.

At the Multi Commodity Exchange, gold for delivery in February next year eased by Rs 33, or 0.11 per cent, to Rs 29,496 per 10 gm in business turnover of one lot.

Likewise, the metal for delivery in December shed Rs 11, or 0.04 per cent, to Rs 29,745 per 10 gm in 138 lots.

Market analysts said apart from a weak trend in the overseas markets, profit-booking by speculators also weighed on gold prices at futures trade here.

Globally, gold traded USD 3.30, or 0.25 per cent, lower at USD 1,313.30 an ounce in Singapore today.

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