Gold futures slide on weak global cues, profit-booking

New Delhi: Gold futures on January 29, fell 0.31 per cent to Rs 26,628 per 10 grams as participants cut their bets amid a weak global trend. Besides, profit-booking by speculators also weighed on gold prices.

At Multi Commodity Exchange, gold prices for delivery in February contracts fell Rs 82, or 0.31 per cent, to Rs 26,628 per 10 grams in business turnover of 725 lots. Also, the metal for delivery in far-month April declined Rs 56, or 0.21 per cent, to Rs 26,734 per 10 grams in 248 lots.

Analysts attributed fall in prices to weak trend overseas and profit-booking by speculators at prevailing levels. Meanwhile, gold traded 0.13 per cent down at USD 1,113.60 an ounce in Singapore.