Gold price falls on profit-taking

New Delhi-India (Apr 29)  Gold prices fell by Rs. 53 to Rs. 27,326 per 10 gm in futures trade today largely in tandem with a weak trend overseas and profit-booking by speculators.

At the Multi Commodity Exchange, gold for delivery in far-month August contracts shed Rs. 53 or 0.19 per cent to Rs. 27,326 per ten gm in business turnover of 9 lots.

Also, the precious metal for delivery in June fell by Rs. 33 or 0.12 per cent to Rs. 27,157 in 392 lots.

Analysts said the fall in yellow metal prices at futures trade was mostly in tune with a weak trend overseas and profit—booking by speculators at prevailing levels.

Meanwhile, gold declined by 0.21 per cent to USD 1,209.20 an ounce in Singapore.

Source: BusinessLine