Gold futures fall on weak global cues, profit-booking

Jun 26 2014, 11:38 IST
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Gold prices fell by 0.30 per cent to Rs 27,667 per 10 grams in futures trade. (Reuters) Gold prices fell by 0.30 per cent to Rs 27,667 per 10 grams in futures trade. (Reuters)
SummaryA weak trend in the overseas markets put pressure on gold prices in futures trade.

Gold prices fell by 0.30 per cent to Rs 27,667 per 10 grams in futures trade today amidst a weak trend overseas and profit-booking by speculators.

At the Multi Commodity Exchange, gold for delivery in August eased by Rs 84, or 0.30 per cent, to Rs 27,667 per 10 grams with a business volume of of 269 lots.

Likewise, the metal for delivery in October was down by Rs 67, or 0.24 per cent, to Rs 27,770 per 10 grams in 7 lots.

Analysts said besides profit-booking by speculators, a weak trend in the overseas markets as stronger equities reduced the metal's safe-haven appeal, put pressure on gold prices in futures trade here.

Globally, gold was trading lower at USD 1,316.66 an ounce in Singapore today from USD 1,319.18 yesterday.

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