Gold futures fall Rs 103 on weak global cues
New Delhi: Gold fell Rs 103 to Rs 28,840 per10 grams in futures trade today as participants reduced their positions, largely in line with a weak trend overseas.
Profit-booking at existing levels also weighed on the yellow metal.
At the Multi Commodity Exchange, gold for delivery in far-month August was trading lower by Rs 103 or 0.36 per cent at Rs 28,840 per 10 grams in a business turnover of 263 lots.
The metal for delivery in June shed Rs 17 or 0.06 per cent to Rs 28,635 per 10 grams in 14 lots. Analysts said besides a weak global trend, profit-booking
by speculators at current levels weighed on gold futures here.
Globally, gold fell 0.35 per cent to USD 1,261 an ounce in Singapore today.