Gold is trading at Rs 29,560 per 10 ten grams as participants indulged in profit-booking.
After gaining about 13 per cent in 2017 till date, the prices of gold is expected to witness some correction in the coming months due to the likelihood of an interest rate hike by the US Federal Reserve in December.
New Delhi: Gold prices fell by Rs 103 to Rs 29,560 per 10 ten grams in futures trading on Friday as participants indulged in profit-booking at prevailing levels even as the metal strengthened overseas.
At the Multi Commodity Exchange, gold for delivery in far-month February declined by Rs 103, or 0.35 per cent to Rs 29,560 per 10 grams in a business turnover of 100 lots.
Similarly, the metal for delivery in December eased by Rs 88 or 0.30 per cent to Rs 29,415 per ten grams in 863 lots.
Analysts attributed the fall in gold futures to profit-booking by traders at existing levels but a firm trend in global market, capped the fall.
Globally, gold rose 0.34 per cent to USD 1,282.70 an ounce in Singapore.
( Source : PTI )
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