Commodities

Gold futures down on profit-taking, global cues

PTI New Delhi | Updated on April 30, 2011 Published on April 29, 2011

Gold slipped from a record high and lost Rs 22 to Rs 22,551 per 10 grams at the futures trading today as speculators indulged in booking profits at existing higher levels, driven by a weak trend in the Asian region.

At the Multi Commodity Exchange, gold for delivery in August fell by Rs 22 or 0.1 per cent to Rs 22,551 per 10 grams with a business turnover of four lots. Similarly, June contract declined by Rs 15 or 0.07 per cent to Rs 22,268 per 10 grams with a business volume of nine lots.

Analysts said profit-taking by speculators at record levels and a weak trend in Asian region mainly led to the decline in gold futures prices.

Meanwhile, gold declined by $2.50 to $1533.30 an ounce in the Asian region.

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Published on April 29, 2011
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