Gold futures down on weak global cues; profit-taking

Amid a weak trend overseas and profit-booking by speculators, gold prices fell 0.22% to Rs 26,735 per 10 gm in futures trade today.

Amid a weak trend overseas and profit-booking by speculators, gold prices fell 0.22% to Rs 26,735 per 10 gm in futures trade on Friday.

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At the Multi Commodity Exchange, gold for delivery in October eased by Rs 59 or 0.22% to Rs 26,735 per 10 gm in business turnover of 84 lots.

Likewise, the metal for delivery in August shed Rs 51, or 0.19%, to Rs 26,626 per 10 gm in 2,202 lots.

Analysts said besides a weak trend in the overseas markets, profit-booking by speculators put pressure on the gold prices at futures trade in New Delhi.

Globally, gold fell $3.70 to $1,281.90 an ounce in Singapore on Friday.