Gold futures down Rs 37 on profit booking, global cues

Gold is trading at Rs 30,450 per 10 gram.

New Delhi:

Gold prices drifted lower by Rs 37 to Rs 30,450 per 10 gram in futures trade on November 4 as participants lightened their positions at prevailing levels amid a weak trend overseas.

In futures trade, gold for delivery in December was trading Rs 37 or 0.12 per cent down at Rs 30,450 per 10 gram on the Multi Commodity Exchange with a business turnover of 297 lots.

The metal for delivery in February next year too fell by Rs 18 or 0.06 per cent to Rs 30,445 per 10 gram in 6 lots.

Analysts said apart from profit-booking by speculators at existing levels, metal's fresh weakness in the overseas markets weighed on gold futures.

In international market, gold lost 0.30 per cent to USD 1,298.30 an ounce in Singapore.