Gold futures decline Rs 116 on profit-booking

Gold prices were down Rs 116 at Rs 31,956 per 10 grams in futures trade Friday as participants went for profit-booking at prevailing levels even as the metal strengthened overseas.

In futures trade at the Multi Commodity Exchange, gold for delivery in December shed Rs 116, or 0.36 per cent, at Rs 31,956 per 10 grams in a business turnover of 178 lots.

Analysts attributed the fall in gold futures to profit-booking by traders at the existing level, but a firm trend in the global market restricted the fall.

Globally, gold was trading 0.11 per cent higher at $1,227.70 an ounce in Singapore Friday.