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Gold prices declined by Rs 124 to Rs 29,776 per 10 gram at the futures trade today as participants lightened their positions at prevailing levels amid a weak trend overseas.
At the Multi Commodity Exchange, gold for delivery in February next year was trading Rs 124 or 0.41 per cent down at Rs 29,776 per 10 gram with a business turnover of 59 lots. The metal for delivery in December year too fell by Rs 104 or 0.35 per cent to Rs 29,750 per 10 gram in 811 lots.
Analysts said apart from profit-booking by speculators at existing levels, the metal’s fresh weakness in the overseas markets weighed on gold futures. In the international market, gold lost 0.2 per cent to $1,291.90 an ounce in Singapore.
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