Gold futures down on weak global cues, profit-booking

Sep 02 2014, 11:19 IST
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The metal for delivery in far-month December shed Rs 78, or 0.24 per cent, to Rs 28,059 per 10 grams in 11 lots. (PTI) The metal for delivery in far-month December shed Rs 78, or 0.24 per cent, to Rs 28,059 per 10 grams in 11 lots. (PTI)
SummaryAmid a weak trend overseas and profit-booking by speculators, gold prices fell 0.26 per cent.

Amid a weak trend overseas and profit-booking by speculators, gold prices fell 0.26 per cent to Rs 27,860 per 10 grams in futures trade today.

At the Multi Commodity Exchange, gold for delivery in October eased by Rs 74, or 0.26 per cent, to Rs 27,860 per 10 grams in a business turnover of 346 lots.

Likewise, the metal for delivery in far-month December shed Rs 78, or 0.24 per cent, to Rs 28,059 per 10 grams in 11 lots.

Analysts said besides profit-booking by speculators, a subdued trend in the overseas markets as investors weighed the health of the global economy against tension between Ukraine and Russia, put pressure on gold prices at futures trade here.

Globally, gold traded 0.40 per cent lower at USD 1,280.41 an ounce in Singapore today.

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