Gold slips from records on weak global cues
Tracking a weakening global trend, gold prices slipped from a record level over Rs 30,000 by losing Rs 108 to Rs 29,991 per 10 grams in futures trade today on profit-booking.
Sentiment turned bearish as gold in international markets declined as speculators judged the recent upsurge was overdone and booked profits.
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At the MCX, gold for delivery in August fell by Rs 108, or 0.36% to Rs 29,991 per 10 grams in business turnover of 5,118 lots.
The June contract lost Rs 81, or 0.27%, to Rs 29,785 per 10 grams in 131 lots.
Market analysts attributed the fall in gold futures to weakening global trend.
In Singapore, gold fell 0.6% to $1,614.88 ounce. It had climbed 4.1% on June 1, the most since January 2009.