Amid profit booking at record levels by speculators and a weak trend overseas, gold futures slipped by 0.53 per cent from their record level to Rs. 27,450 per 10 grams today.
At the Multi Commodity Exchange, gold for delivery in October fell by Rs. 147, or 0.53 per cent, to Rs. 27,450 per 10 grams, with a business turnover of 1,665 lots. It had galloped to a record high of Rs. 28,284 per 10 grams in yesterday’s volatile session.
Gold for delivery in December also lost Rs. 146, or 0.52 per cent, to Rs. 27,710 per 10 grams, with a trade turnover of 72 lots.
Analysts said profit-booking by speculators at record high levels and a weak trend overseas, where the precious metal slipped from its record level of $ 1,913.50 an ounce, mainly led to the fall in gold prices in futures trade here.
Also, a weak trend in precious metals in the domestic spot market at prevailing record levels also weighed on gold prices in futures trade here, they said hlobally, gold fell sharply by $ 68 to $ 1,830.10 an ounce in New York last night.
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