Gold futures fall 0.51% on profit-booking

Wednesday, Feb 10, 2016,11:34 IST By metrovaartha A A A

New Delhi | Gold prices drifted by 0.51 per cent to Rs 28,291 per 10 ten grams in futures trade Wednesday as speculators indulged in profit-booking at prevailing levels, even as metal strengthened overseas. At the Multi Commodity Exchange, gold for delivery in April fell by Rs 146 or 0.51 per cent to Rs 28,291 per 10 grams in a business turnover of 447 lots. Similarly, metal for delivery in June contracts traded lower by Rs 144 or 0.50 per cent to Rs 28,510 per 10 grams in 18 lots.

Analysts attributed the fall in gold futures to profit-booking by participants at existing levels. A firming trend overseas where gold traded near a seven-month high as investors assessed the outlook for the US monetary policy amid swings in financial markets and concern that global growth is slowing, capped the fall, analysts said.

Globally, gold rose 0.2 per cent to USD 1,191.90 an ounce in Singapore.