Gold price weakens by Rs 82 in futures trade

Gold price weakens by Rs 82 in futures tradeNew Delhi - Gold prices fell by Rs 82 to Rs 27,581 per 10 grams in futures trade Thursday amidst a weak trend overseas and profit-booking by speculators.

At the Multi Commodity Exchange (MCX), gold for delivery in August fell by Rs 82, or 0.30 percent, to Rs 27,581 per 10 grams in a business turnover of 954 lots.

In a similar fashion, the metal for delivery in October shed Rs 83, or 0.30 percent, to Rs 27,680 per 10 grams in 31 lots.

Analysts said a weak trend in the overseas markets where gold retreated from a three-month high before employment data that may show the US economy is gaining momentum, put pressure on the prices of the precious metal at futures trade here.

Globally, gold lost 0.30 percent to USD 1,322.96 an ounce in Singapore today. (PTI)