Gold Futures Down on Profit Booking, Global cues

Posted By: Religare
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Gold futures were trading lower during in the domestic market on Fridayas participants lightened their positions at prevailing levels amid a weak trend overseas.

Gold Futures Down on Profit Booking, Global cues

Analysts said apart from profit-booking by speculators at existing levels, metal's fresh weakness in the overseas markets as investors awaited further clues on the US Federal Reserve's plan for interest rates from the key non-farm- payrolls report due this week weighed on gold futures.

At the MCX, gold futures for October 2017 contract is trading at Rs 29343 per 10 grams, down by 0.15 per cent, after opening at Rs 29361, against a previous close of Rs 29387. It touched the intra-day low of Rs 29312 (at 12:29 hours).

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