Gold futures decline by 0.23 per cent on profit-booking; global cues

New Delhi: Gold prices declined by 0.23 per cent to Rs 27,491 per ten grams in futures trading, as speculators booked profits at prevailing levels amid a weak global trend. At the Multi Commodity Exchange, gold for delivery in December declined by Rs 63, or 0.23 per cent, to Rs 27,498 per ten grams in a business turnover of 742 lots.

Similarly, the metal for delivery in far-month February next year traded lower by Rs 63, or 0.23 per cent, to Rs 27,683 per ten grams in six lots. Market analysts said profit-booking by speculators and a weakening trend overseas led to decline in gold prices at futures trade. Meanwhile, gold lost 0.14 per cent to USD 1,247.60 an ounce in Singapore.