Gold & Silver

Profit-booking pulls gold futures down to Rs 29,734

| Updated on: Jan 17, 2018

Gold prices fell 0.19 per cent to Rs 29,734 per 10 grams at futures trade due to profit-booking by speculators at the prevailing levels amid a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in April fell Rs 57 or 0.19 per cent to Rs 29,734 per 10 grams in a business turnover of 10 lots. Similarly, the metal for delivery in February traded down by Rs 31 or 0.1 per cent at Rs 29,791 per 10 grams in 294 lots.

Analysts attributed the fall in gold futures to profit-booking by participants at existing levels and a weak trend overseas as strong dollar reduced the precious metal’s appeal as a safe-haven. Globally, gold fell 0.19 per cent to $1,335.40 an ounce in Singapore.

Published on January 17, 2018

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