Gold prices fell on the MCX due to profit booking and weak global cues, with analysts citing hotter-than-expected US inflation data as a factor.
New Delhi, Apr 15 (PTI) Gold prices on Monday declined Rs 80 to Rs 71,763 per 10 grams in futures trade on the Multi Commodity Exchange amid profit booking.
On the MCX, gold contracts for June delivery traded lower Rs 80 or 0.23 per cent at Rs 71,763 per 10 grams in a business turnover of 22,483 lots.
Analysts attributed the fall in gold prices to weak global cues and profit booking at higher level.
"Gold...showed profit-taking amid hotter than expected US inflation data which
eases possibility of the US Fed interest rate cuts in June policy meetings," Rahul Kalantri, VP of Commodities at Mehta Equities Ltd, said.
Globally, gold was trading 0.33 per cent lower at USD 2,366.20 per ounce in New York.
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