Gold futures weaken on profit taking, global cues

NEW DELHI: Gold prices traded marginally lower by Rs 21, to Rs 20,767 per 10 grams in futures trade today, as speculators preferred to book profits at existing higher levels following fall in demand.

Weakening trend in the Asian region further influenced the trading sentiment.

At the Multi Commodity exchange, gold for February month declined by Rs 21, or 0.10 per cent, to Rs 20,767 per 10 grams, with a business turnover of three lots.

Similarly, the metal for delivery in April traded lower by the similar margin to Rs 20,768 per 10 grams, with an open interest of two lots.

Market analysts said beside weakening trend in the Asian region, profit booking by speculators on fall in demand at existing higher levels led to decline in gold prices at the futures trade.

Meanwhile, gold shed UAD 0.60 to USD 1,414 an ounce in the Asian region.