Gold failed to sustain its record levels and prices fell by 1.12 per cent, to Rs 20,298 per 10 gram today in futures trade, after speculators booked profits amid weak trend overseas.
At the Multi Commodity Exchange counter, gold for delivery in December fell by Rs 229, or 1.12 per cent, to Rs 20,298 per 10 gram, with a business turnover of just one lot. The contract hit an all-time high of Rs 20,569 per 10 gram in the previous session.
The metal for delivery in February also fell by Rs 228, or 1.09 per cent, to Rs 20,486 per 10 gram, with a business turnover of two lots.
Analysts said apart from profit taking by speculators at prevailing record levels, overnight weakness in the precious metal the global markets and slowing demand at the domestic spot markets markets, weighed on the precious metal futures prices.
Globally, gold fell by $17.20 to $1,393 an ounce in New York yesterday. It had touched an all-time high of $1425.50 an ounce early this week.
