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Gold moves down in futures trade on profit-booking

Gold moves down in futures trade on profit-booking

New Delhi: Gold prices moved down by Rs 66 to Rs 30,532 per ten grams in futures trade Monday as speculators booked profits.

However, firming trend in overseas markets, capped the losses.

At the Multi Commodity Exchange, gold for delivery in April declined by Rs 66, or 0.22 per cent to Rs 30,532 per ten grams in business turnover of 5,364 lots.

Likewise, the metal for delivery in February shed Rs 8, or 0.03 per cent to Rs 30,027 per ten grams in 456 lots.

Market analysts said besides profit-booking by speculators, sluggish demand in the spot market mainly led to decline in gold prices, but a firming trend overseas capped the fall at futures trade.

Globally, gold rose 0.2 per cent to USD 1,671.27 an ounce in Singapore.


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