Gold futures prices fall on global cues, profit-booking

Gold

Gold futures prices today fell by Rs 180 to Rs 31,723 per 10 grams as speculators offloaded their positions tracking a weak global trend.

At the Multi Commodity Exchange, gold for delivery in December fell by Rs 180, or 0.56 per cent to Rs 31,723 per 10 grams in a business turnover of 4,777 lots.

Similarly, the metal for delivery in February by Rs 177, or 0.55 per cent, to Rs 32,089 per 10 grams in 2,610 lots.

Market analysts attributed the fall in gold futures prices to a weak trend overseas where it fell the most in over three weeks and profit-booking by speculators.

Meanwhile, gold retreated 1.7 per cent to USD 1,714.90 an ounce in New York last night, heading for the biggest drop since November 2.

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