Gold futures decline Rs 103 on profit-booking

Gold prices fell by Rs 103 to Rs 29,560 per 10 ten grams in futures trading today as participants indulged in profit-booking at prevailing levels even as the metal strengthened overseas.
At the Multi Commodity Exchange, gold for delivery in far-month February declined by Rs 103, or 0.35 per cent to Rs 29,560 per 10 grams in a business turnover of 100 lots.
Similarly, the metal for delivery in December eased by Rs 88 or 0.30 per cent to Rs 29,415 per ten grams in 863 lots.
Analysts attributed the fall in gold futures to profit-booking by traders at existing levels but a firm trend in global market, capped the fall.

Globally, gold rose 0.34 per cent to USD 1,282.70 an ounce in Singapore.