After Tuesday’s partial recovery, gold futures prices on Wednesday fell by 0.89% to trade at Rs 25,536 per 10 grams after participants booked profits even as metal advanced for the second day in the global market.
At the Multi Commodity Exchange, gold for delivery in June fell by Rs 230 to Rs 25,536 per 10 grams in a business turnover of 6,107 lots.
Similarly, the metal for delivery in far-month August was down by Rs 234, or 0.89% to Rs 25,952 per 10 grams in 259 lots.
Market analysts said after yesterday’s small recovery, participants preferred to book profits despite gold advanced for the second day in the global markets, weighed on the precious metal at futures trade.
Globally, gold gained 1.1% to $1,382.85 an ounce in Singapore on speculation that the biggest slump in three decades will spur increased purchases from investors and consumers.
–PTi