Gold futures decline in Muhurat trading

New Delhi: Gold fell by 0.73 per cent to Rs 27,513 per ten grams in special Muhurat trading on the Multi Commodity Exchange today as participants booked profits to mark the start of Samvat 2071.

Besides, a weak trend in global markets also put pressure on the prices.

At the Multi Commodity Exchange, gold for delivery in far-month February 2015 fell by Rs 202, or 0.73 per cent, to Rs 27,513 per ten grams. Business turnover was 33 lots.

On the similar lines, gold for delivery in December edged lower by Rs 187, or 0.68 per cent, to Rs 27,294 per 10 grams, with a business turnover of 1,174 lots.

Market participants said profit-booking by speculators, who opened their new accounts on the first session of Samvat year 2071 and a weak trend overseas, mainly influenced gold prices at futures trade here.

Globally, gold fell by 0.20 per cent to USD 1,239.16 an ounce in London today as signs of economic growth in China and Europe curbed demand for the precious metal.

Meanwhile, gold spot prices in the national capital fell by Rs 50 to Rs 27,800 per ten gram in special Diwali trading today.

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Free Press Journal