Gold down in futures trade on weak global cues, profit-booking

Gold prices moved down by 0.11% to Rs 29,496 per 10gm in futures trade today as participants indulged in trimming their positions, tracking a weak trend in the global market.

Gold prices moved down by 0.11% to Rs 29,496 per 10gm in futures trade on Tuesday as participants indulged in trimming their positions, tracking a weak trend in the global market.

At the Multi Commodity Exchange, gold for delivery in February 2014 eased by Rs 33, or 0.11%, to Rs 29,496 per 10gm in business turnover of one lot.

Likewise, the metal for delivery in December shed Rs 11, or 0.04%, to Rs 29,745 per 10 gm in 138 lots.

Market analysts said apart from a weak trend in the overseas markets, profit-booking by speculators also weighed on gold prices at futures trade in New Delhi.

Globally, gold traded $3.30, or 0.25%, lower at $1,313.30 an ounce in Singapore on Tuesday.