Snapping a record-setting spree, gold prices fell sharply by Rs 281 to Rs 19,896 per ten gram in futures trade today, after speculators preferred to book profits at prevailing levels amid weak trend overseas.
At the Multi Commodity Exchange platform, gold for far- month April contract traded Rs 281, or 1.81 per cent, to Rs 19,986 per ten gram, with a turnover of 63 lots.
Similarly, the metal for delivery February delivery declined by Rs 218, or 2.1 per cent, to Rs 19,816 per ten gram, with a turnover of 249 lots, while delivery in December contract fell by Rs 183, or 0.95 per cent, to Rs 19,681 per ten gram, clocking a turnover of 4,668 lots.
Marketmen said fresh offloading by speculators to book profits and weakening trend overseas following dollar's strength, dragged gold prices at futures trade.
Meanwhile, gold fell by $8.40 to $1,360.50 an ounce in Asian region after rising to an all time high of $1,388.10.
