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Last Updated : May 17, 2019 02:12 PM IST | Source: PTI

Gold loses sheen in futures trade

Analysts attributed the fall in gold futures to profit-booking by traders in the domestic markets.

Gold prices fell by Rs 26 to Rs 31,950 per 10 gram in futures trade Friday as speculators went for profit-booking in tandem with a weak trend in overseas market.

On the Multi Commodity Exchange, gold to be delivered in June fell by Rs 26, or 0.08 percent, to trade at Rs 31,950 per 10 gram in a business turnover of 8,250 lots.

The yellow metal for delivery in August contracts, too, shed Rs 23, or 0.07 per cent, to trade at Rs 32,140 per 10 gram with a business volume of 8,080 lots.

Analysts attributed the fall in gold futures to profit-booking by traders in the domestic markets.

Globally, the precious metal lost steam on a firmer dollar and increasing investors' preference for riskier assets denting the safe haven sentiments, say reports.

Gold was trading lower 0.01 per cent to USD 1,286.10 an ounce in New York.

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First Published on May 17, 2019 02:00 pm
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