Gold prices declined by Rs 68 to Rs 29,040 per 10 grams at the futures trade today as speculators booked profits at existing higher levels on the back of a weak spot market due to sluggish demand.
At the Multi Commodity Exchange, gold for delivery in February declined by Rs 68 or 0.23 per cent to Rs 29,040 per 10 grams with a business turnover of 620 lots. Similarly, December contract shed Rs 62 or 0.22 per cent to Rs 28,737 per 10 grams with a trade volume of 8,007 lots.
Marketmen said besides profit-booking by speculators at existing higher levels, subdued demand at the spot market mainly led to the decline in gold futures prices.