BL: Gold futures dips on profit-booking, global cues
NEW DELHI: Snapping a record-setting spree, gold prices fell sharply by Rs 281 to Rs 19,896 per ten gram at the futures trade on Monday, after speculators preferred to book profits at the prevailing levels amid weak trend overseas.
At the Multi Commodity Exchange platform, gold for far-month April contract traded down by Rs 281 or 1.81 per cent to Rs 19,986 per ten gram with a turnover of 63 lots.
Similarly, February contract declined by Rs 218 or 2.1 per cent to Rs 19,816 per ten gram with a turnover of 249 lots, while December contract fell by Rs 183 or 0.95 per cent to Rs 19,681 per ten gram clocking a turnover of 4,668 lots.
Marketmen said fresh offloading by speculators to book profits and weakening trend overseas following the dollar’s strength, dragged gold prices at the futures trade.
Meanwhile, gold fell by $8.40 to $1,360.50 an ounce in the Asian region after rising to an all-time high of $1,388.10. — PTI
