Gold price today: Futures fall 0.76 pct on weak global cues

Gold price today: Gold futures on Friday fell by 0.76 per cent to Rs 43,209 per 10 gram as participants trimmed their positions driven by a weak global trend.

On the Multi Commodity Exchange, gold prices for April delivery fell by Rs 333, or 0.76 per cent, to Rs 43,209 per 10 gram in a business turnover of 1,103 lots. The yellow metal for June delivery declined by Rs 382, or 0.88 per cent, to Rs 43,261 per 10 gram in 1,558 lots. Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas. Globally, gold was trading 0.30 per cent lower at USD 1,655.30 per ounce in New York.

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The gold price has been climbing new peaks after the Coronavirus spread. Some profit-booking is happening in the gold price today as the G-20 member country's measures to combat the COVID-19 virus. G-20 countries constitute 88 per cent of the ent affected Coronavirus patients in the world.