Gold futures decline in Muhurat trading

New Delhi: Gold eased by 0.25 percent to Rs 25,517 per ten grams in special Muhurat trading on the Multi Commodity Exchange Wednesday as participants booked profits to mark the start of Samvat 2072.

Besides, a weak trend overseas put pressure on the prices.

At the Multi Commodity Exchange (MCX), gold for delivery in December fell by Rs 65, or 0.25 percent, to Rs 25,517 per ten grams in business volume of 256 lots.

On the similar lines, gold for delivery in far-month February next year edged lower by Rs 64, or 0.25 percent, to Rs 25,712 per 10 grams, with a business turnover of five lots.

Market participants said profit-booking by speculators, who opened their new accounts on the first session of Samvat year 2072 and a weak trend overseas, mainly influenced gold prices at futures trade here.

Globally, gold fell by 0.2 percent to USD 1,087.70 an ounce in London today on growing expectations that the US Federal Reserve will increase interest rates in December.

Meanwhile, gold spot prices in the national capital rose by Rs 15 to Rs 26,250 per ten gram in special Diwali trading today.