Gold futures drop Rs 72 on weak global cues, profit-booking

Gold futures traded lower by Rs 72 at Rs 28,591 per 10 gram today amid a weakening global trend and profit-booking by speculators.
Gold for delivery in June was trading lower by Rs 72, or 0.25 per cent, to Rs 28,591 per 10 gram, in a business turnover of 180 lots at the Multi Commodity Exchange.
On similar lines, the metal for delivery in April eased by Rs 61, or 0.21 per cent, to Rs 28,481 per 10 gram in 180 lots.
Analysts said, the fall in gold futures was due to cutting down of positions by speculators in tandem with a weak trend overseas.

Globally, gold prices fell 0.10 per cent to USD 1,241.20 an ounce in Singapore.