Gold futures dip Rs 29 on muted demand

Gold prices were down by Rs 29 to Rs 32,955 per 10 grams in futures trade Friday amid a weakening global trend and profit-booking by speculators.

Gold for delivery in April contracts traded Rs 29 down at Rs 32,955 per 10 grams in a business turnover of 992 lots at the Multi Commodity Exchange.

Analysts said the fall in gold prices in futures market was in tandem with a weak trend overseas as the dollar recouped losses after stronger-than-expected economic data from the US, reducing demand for the precious metal as a safe haven.

Globally, gold fell 0.02 per cent, to USD 1,313.70 an ounce in New York.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)