Gold futures drop on weak global cues, profit-booking

Gold prices fell by Rs 64 to Rs 29,363 per 10 grams in futures trading today as participants trimmed their exposure on weak global cues.

Gold for delivery in far-month August was trading lower by Rs 64, or 0.22 per cent, to Rs 29,363 per 10 grams, in a business turnover of six lots at the Multi Commodity Exchange.

On similar lines, the metal for delivery in June eased by Rs 60, or 0.20 per cent, to Rs 29,245 per 10 grams in 478 lots.

Analysts said the fall in gold futures was mostly in tandem with a weak trend overseas and profit-booking by speculators.

Globally, gold prices fell 0.49 per cent to USD 1,282.90 an ounce in Singapore.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)