Gold fails to sustain upturn, falls Rs 230 in futures trade
New Delhi: After yesterday's partial recovery, gold futures prices on Wednesday fell by 0.89 percent to trade at Rs 25,536 per 10 grams after participants booked profits even as metal advanced for the second day in the global market.
At the Multi Commodity Exchange, gold for delivery in June fell by Rs 230 to Rs 25,536 per 10 grams in a business turnover of 6,107 lots.
Similarly, the metal for delivery in far-month August was down by Rs 234, or 0.89 percent to Rs 25,952 per 10 grams in 259 lots.
Silver for delivery in May also fell by Rs 805 to Rs 43,390 per kg.
Market analysts said after yesterday's small recovery, participants preferred to book profits despite gold advanced for the second day in the global markets, weighed on the precious metal at futures trade.
Globally, gold gained 1.1 percent to USD 1,382.85 an ounce in Singapore on speculation that the biggest slump in three decades will spur increased purchases from investors and consumers.