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Gold futures fall 0.15% on profit-booking

The metal was trading at near 4-month high overseas

<a href="http://www.shutterstock.com/pic-76071352/stock-photo-gold-jewelry-background-soft-selective-focus.html" target="_blank">Image</a> via Shutterstock

Press Trust of India New Delhi
Gold futures fell 0.15% to Rs 28,570 per 10 grams today as speculators offloaded positions to book profits even as the metal traded at nearly four-month high overseas.

At the Multi Commodity Exchange, gold for delivery in October fell by Rs 43, or 0.15%, to Rs 28,570 per 10 grams in a business turnover of six lots.

August gold declined by Rs 32, or 0.11%, to Rs 28,464 per 10 grams in 195 lots.

Market analysts said the fall in gold futures was mostly due to profit-booking by speculators after recent gains. A firming trend in precious metal overseas on rising tension in the Middle East also boosted its safe-haven demand.
 

Meanwhile, gold prices rose 0.11% to $1,336.80 an ounce in Singapore.

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First Published: Jul 11 2014 | 10:59 AM IST

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