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Gold futures decline Rs 114 on profit-booking

Gold prices fell by Rs 114 to Rs 32,256 per 10 gram in futures trade on Tuesday as participants went for profit-booking at prevailing levels even as the metal strengthened overseas.

In futures trade at the Multi Commodity Exchange, gold for delivery in April eased by Rs 114, or 0.35 per cent, to Rs 32,256 per 10 gram in a volume of 12,332 lots.

Similarly, the yellow metal for delivery in far-month June shed Rs 139, or 0.43 per cent, to Rs 32,479 per 10 gram in a business turnover of 7,939 lots.

Analysts attributed the fall in gold futures to profit-booking by traders at the existing level, but a firm trend in the global market restricted the fall.

Globally, however, gold was trading 0.06 per cent up at USD 1,285.67 an ounce in Singapore.

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