Gold futures fall Rs 103 on weak global cues

Gold fell Rs 103 to Rs 28,840 per 10 grams in futures trade today as participants reduced their positions, largely in line with a weak trend overseas.
Profit-booking at existing levels also weighed on the yellow metal.
At the Multi Commodity Exchange, gold for delivery in far-month August was trading lower by Rs 103 or 0.36 per cent at Rs 28,840 per 10 grams in a business turnover of 263 lots.
The metal for delivery in June shed Rs 17 or 0.06 per cent to Rs 28,635 per 10 grams in 14 lots.
Analysts said besides a weak global trend, profit-booking by speculators at current levels weighed on gold futures here.

Globally, gold fell 0.35 per cent to USD 1,261 an ounce in Singapore today.