Gold futures decline on profit booking

Gold futures traded down on MCX due to profit-booking by speculators. Further, as investors and speculators exited positions in the precious metal tracking a weak trend in the overseas market put pressure on gold prices at the futures trade. The contract for June delivery was trading at Rs 28341.00, down by 0.58% or Rs 164.00 from its previous closing of Rs 28505.00. The open interest of the contract stood at 10034.00 lots. The contract for August delivery was trading at Rs 27895.00, down by 0.38% or Rs 105.00 from its previous closing of Rs 28000.00. The open interest of the contract stood at 1980.00 lots on MCX.