Gold futures fall 0.30 per cent on profit-booking, global cues

New Delhi: Gold prices drifted lower by 0.30 per cent to Rs 29,969 per 10 grams in futures trade as speculators indulged in profit-booking at prevailing levels amid a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in February contracts was trading lower by Rs 91, or 0.30 per cent, at Rs 29,969 per 10 grams, in a business turnover of 421 lots.

Similarly, metal for delivery in April fell Rs 73, or 0.24 per cent, to Rs 29,927 per 10 grams in 128 lots.

Analysts attributed the fall in gold futures to profit- booking by participants at existing levels and a weak trend in global markets as the dollar strengthened and US bond yields rose, as traders awaited a US Federal Reserve policy meeting for any indications on interest rate hikes this year.

Globally, gold was trading 0.35 per cent down at USD 1,335.20 an ounce in Singapore.