Gold is trading at Rs 29,571 per 10 grams as participants trimmed their positions to book profits amid a weak trend overseas.
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 Rs 37 to Rs 29,571 per 10 grams in futures trade on Friday as participants trimmed their positions to book profits amid a weak trend overseas.
At Multi Commodity Exchange, gold for delivery in far- month April was trading lower by Rs 37, or 0.12 per cent, at Rs 29,571 per 10 grams, in a business turnover of five lots.
Also, the metal for delivery in February shed Rs 27, or 0.09 per cent, to Rs 29,618 per 10 grams in 294 lots.
Analysts said apart from the profit-booking at current levels by speculators, a weakening trend in the overseas, weighed on the precious metal in futures trade.
Globally, gold fell 0.026 per cent to USD 1,326.40 an ounce in New York.
( Source : PTI )
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