Gold futures dips on profit-booking, global cues

PTI New Delhi | Updated on May 19, 2011 Published on May 19, 2011

Gold prices declined by Rs 54 to Rs 21,925 per 10 grams at the futures trade today on profit-booking by speculators amid a weak global trend.

At the Multi Commodity Exchange, gold for delivery in June declined by Rs 54 or 0.25 per cent to Rs 21,925 per 10 grams in a business turnover of 1,319 lots. Likewise, August contract lost Rs 46 or 0.21 per cent to Rs 22,168 per 10 grams with a business volume of 140 lots.

Analysts said besides profit-booking by speculators, subdued demand at the spot market at prevailing high levels and a weakening global trend led to the fall in gold futures prices.

Meanwhile, gold traded lower by 0.04 per cent to $1,496.30 an ounce in the Asian region.

Published on May 19, 2011
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