Gold futures turn flat amid profit booking

Posted By: Religare
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Gold futures turn flat amid profit booking
Gold futures were trading on a flat note in the domestic market on Thursday as investors and speculators booked profits in the precious metal after a surge in prices in the previous session when rising tensions between Ukraine and Russia boosted the safe haven demand for the bullion as Russia massed troops across the Ukrainian border, raising concerns over invasion in the country.

Caution persisted ahead of the US jobless claims data which may offer further cues over the health of the US labour market.

Gold futures for October 2014 contract, at MCX, is trading at Rs. 28,630 per 10 grams, down by 0.01 per cent, after opening at Rs. 28,595, against the previous closing price of Rs 28,633. It touched an intra-day low of Rs 28,561. (At 10:50 AM).

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