Gold prices fall by Rs 162

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Gold prices were down by Rs 162 at Rs 29,353 per 10 gram in futures trade today amid a weakening global trend and profit-booking by speculators.

Gold for delivery in June was trading lower by Rs 162, or 0.55 per cent, to Rs 29,352 per 10 gram, in a business turnover of 1,048 lots at the Multi Commodity Exchange.

On similar lines, the metal for delivery in far-month August eased by Rs 151, or 0.51 per cent, to Rs 29,450 per 10 gram in 11 lots.

Analysts said the fall in gold futures was mostly in tandem with a weak trend overseas and profit-booking by speculators at existing levels.

Globally, gold prices fell 0.34 per cent to USD 1,284.80 an ounce in Singapore.

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