Business Today
Loading...

Gold futures decline on profit-booking, global cues

Profit booking by speculators amid a weak global trend led gold prices declined by Rs 54 to Rs 21,925 per 10 grams in futures trade on

twitter-logoPTI | May 19, 2011 | Updated 13:49 IST

Gold prices declined by Rs 54 to Rs 21,925 per 10 grams in futures trade on Thursday on profit booking by speculators amid a weak global trend.

At the Multi Commodity Exchange, gold for delivery in June declined by Rs 54, or 0.25 per cent to Rs 21,925 per 10 grams, in a business turnover of 1,319 lots.

Likewise, the metal for August delivery contract lost Rs 46, or 0.21 per cent to Rs 22,168 per 10 grams, with a business volume of 140 lots.

Analysts said besides profit-booking by speculators, subdued spot markets demand at prevailing high levels and a weakening global trend led to the fall in gold futures prices.

Meanwhile, gold traded lower by 0.04 per cent to USD 1,496.30 an ounce in Asian region.

  • Print
  • COMMENT
BT-Story-Page-B.gif
A    A   A
close