Gold futures remain weak on profit-booking

Friday, Feb 26, 2016,11:26 IST By metrovaartha A A A

New Delhi | Gold fell for the second straight day and prices shed another 0.36 per cent to Rs 29,902 per 10 grams in futures trade Friday as participants engaged in booking-profits at prevailing levels, even as the metal maintained an upward trend overseas.

At the Multi Commodity Exchange, gold for delivery in far-month June drifted by Rs 108, or 0.36 per cent, to Rs 29,902 per 10 grams, in a business turnover of 15 lots. Likewise, the yellow metal for delivery in April declined by Rs 97, or 0.33 per cent, to Rs 29,677 per 10 grams in 701 lots.

Continued profit-booking by speculators dragged down gold prices at futures trade, but a firming trend overseas capped the losses, analysts said. Globally, gold climbed 0.6 per cent to USD 1,240.04 an ounce in Singapore.