Monday, 18 August 2014

Gold futures fall on weak global cues, profit-booking

Gold prices fell 0.82 per cent to Rs 28,420 per 10 grams in futures trade today amid a weak trend overseas and profit-booking by speculators. 

At the Multi Commodity Exchange, Gold for delivery in December fell by Rs 236, or 0.82 per cent, to Rs 28,420 per 10 grams in a business turnover of 14 lots. 

Likewise, the metal for delivery in October shed Rs 224, or 0.78 per cent, to Rs 28,390 per 10 grams in 537 lots. 

besides profit-booking by speculators, a weak trend in the overseas markets as the outlook for an improving US economy outweighed tension in Ukraine, weighed on gold prices at futures trade here. 

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