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Amid profit-booking at record levels by speculators and a weak trend overseas, gold futures slipped 0.53 per cent from their record level to Rs 27,450 per 10 grams today.
At the Multi Commodity Exchange, gold for delivery in October fell by Rs 147 or 0.53 per cent to Rs 27,450 per 10 grams with a business turnover of 1,665 lots. It had galloped to a record high of Rs 28,284 per 10 grams in yesterday’s volatile session.
Similarly, December contract also lost Rs 146 or 0.52 per cent to Rs 27,710 per 10 grams with a trade turnover of 72 lots.
Analysts said profit-booking by speculators at record high levels and a weak trend overseas, where the precious metal slipped from its record level of $1,913.50 an ounce, mainly led to the fall in gold prices at the futures trade here.
Also, a weak trend in precious metals at the domestic spot market at prevailing record levels also weighed on prices at the futures trade here, they said.
Globally, gold fell sharply by $68 to $1,830.10 an ounce in New York last night.
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