Gold futures trading flat on global cues, profit booking
24/10/2017 11:18
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Gold is trading flat in early trade on Tuesday as participants trimmed their positions to lock-in gains amid a weak trend overseas. Analysts said apart from profit-booking by participants after recent gains, a weakening trend in the overseas markets where gold declined as the dollar strengthened, reducing appeal of the precious metals a safe haven, mainly weighed on gold prices at futures trade. At the MCX, gold futures for Dec 2017 contract is trading at Rs 29538 per 10 grams, at 0.00 per cent, after opening at Rs 29571, against a previous close of Rs 29537. It touched the intra-day low of Rs 29521 (at 11:23 hours).