Gold futures shed 0.25% on profit-booking

Posted By: Staff
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Gold futures shed 0.25% on profit-booking
New Delhi: Gold futures prices on Friday fell by 0.25 percent to Rs 30,469 per 10 grams as speculators locked in gains amid a weak global trend.

At the Multi Commodity Exchange, gold prices for delivery in October fell by Rs 75 or 0.25 percent, to Rs 30,469 per 10 grams in business turnover of 136 lots.

Similarly, metal prices for delivery in December declined by Rs 73, or 0.24 percent, to Rs 30,336 per 10 grams in 13 lots.

Market analysts said the fall in gold futures was mostly attributed to the profit-booking by speculators and a weak trend in the global market as US economic data backed the case for reduced stimulus after the Federal Reserve this week maintained the pace of monthly bond purchases.

Meanwhile, gold prices fell 0.07 percent to USD 1,364.10 an ounce in Singapore.


Story first published: Friday, September 20, 2013, 11:42 [IST]
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