Monday, November 29, 1999

Gold futures down on profit taking

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New Delhi, June 18 (PTI) Gold prices declined by Rs 71 or 0.38 per cent to Rs 18,860 per ten gram in futures trade today, as traders booked profits at the existing higher levels. Weak trend in the other Asian markets also put some pressure. At the Multi Commodity Exchange, gold for delivery in December contract fell Rs 71, or 0.38 per cent, to Rs 18,860 per ten gram, with an open interest of 333 lots. Similarly, the metal for delivery in August contract declined by Rs 57, or 0.30 per cent to Rs 18,730 per ten gram, with a business turnover of 19,036 lots. Analysts said besides, profit taking at prevailing higher levels, weakening trend in prices in the Asian region led to a fall in gold prices at futures trade. Meanwhile, gold traded marginally lower by 0.04 per cent to USD 1,244.70 an ounce in the Asian region.

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