Gold futures lower on profit booking

Gold futures declined in today's trade tracking overseas trend as spike in the yellow metal tempted traders to book profits in the yellow metal.

On Thursday, International gold hovered near one-month high as investors concerns over euro zone debt crisis and sought safety in precious metal.

MCX spot gold was seen at Rs 29,753 per 10 grams, while spot silver at Rs 54,265 per kg.

And, the metal for April contract 2012 delivery was trading at Rs 29,773 per 10 grams down by Rs 54.00 or 0.18% on the Multi Commodity exchange at 2.15 pm IST.

Silver futures were seen trading lower at Rs 54,808 per kgs, lower by Rs 255.

Sliding trend seen in precious metal and strong rupee weighed on the gold futures today.

India gold prices is expected to go higher during the wedding season. However a stronger rupee could limit the upside in prices.

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