17 May '11, 2pm

Gold futures weaken on profit-taking

New Delhi , May 17 (PTI) Gold prices declined by Rs 14 to Rs 22,215 per 10 grams in futures trade today as speculators booked profits at existing higher levels even as the metal strengthened overseas. At the Multi Commodity Exchange, gold for August month declined by Rs 14, or 0.06 per cent, to Rs 22,215 per 10 grams in business turnover of just two lots. Similarly, the metal for delivery in June month lost Rs 11, or 0.05 per cent to Rs 21,960 per 10 grams with a business volume of seven lots. Market analysts said profit-booking by speculators at existing higher levels mainly put some pressure on the gold prices at futures trade here but better trend overseas, restricted the losses. In the Asian region, gold traded USD 2.80 higher at USD 1,492.60 an ounce.

Full article: http://sg.news.yahoo.com/gold-futures-weaken-profit-takin...

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