Gold futures succumb to profit-booking, global cues

Gold prices fell by Rs 34 to Rs 31,244 per 10 gram in futures trade Monday due to profit-booking by participants at current levels amid weak global trends. At the Multi Commodity Exchange, gold for delivery in far-month February next year was trading lower by Rs 34, or 0.11 per cent, at Rs 31,244 per 10 gram in a business turnover of 94 lots.

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Similarly, the metal for delivery in December eased Rs 14, or 0.05 per cent, to Rs 30,993 per 10 gram in 445 lots.

Analysts said the fall in gold prices was due to profit-booking by traders at existing levels and the metal’s losses in global market.

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Globally, the gold was trading lower by 0.11 per cent at $1,220.80 an ounce in Singapore.