Gold futures fall Rs 232 on weak global cues, profit-booking

Amid a weakening global trend and profit-booking, gold futures fell Rs 232 to Rs 31,531 per 10 gm today as participants trimmed their positions.

In futures trade, gold for delivery in October contracts was trading Rs 232 or 0.73% lower at Rs 31,531 per 10 gm in a business turnover of 206 lots at the Multi Commodity Exchange.

On similar lines, the metal for delivery in August shed Rs 225 or 0.72% to Rs 31,049 per 10 gm in 2,447 lots.

Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas as investors await stimulus from policy makers and profit-booking by speculators.
 
Meanwhile, gold prices in global market retreated as much as 0.40% to $1,337.54 an ounce in Singapore today.