<p>New Delhi: Gold futures snapped a four-session winning streak on Wednesday, falling sharply by Rs 1,975 or 2.03 per cent to Rs 95,365 per 10 grams, as investors booked profits after recent record highs, according to Multi Commodity Exchange (MCX) data.</p><p>On the MCX, gold contracts for June delivery traded lower by Rs 1,975 or 2.03 per cent to Rs 95,365 per 10 grams in a business turnover of 18,885 lots.</p>.Gold slips on Trump's Fed backflip, trade hopes.<p>According to Rahul Kalantri, Vice-President of commodities at Mehta Equities Ltd, gold prices declined over 2 per cent after US President Donald Trump's softened stance -- particularly towards the Federal Reserve and against China.</p><p>"Gold surged near the USD 3,500 per troy ounce mark during early trade, reflecting strong bullish momentum. However, the rally was short-lived. Remarks from the US President - reassuring markets that the administration is 'doing fine with China' and has no plans to replace Fed Chairman Jerome Powell - triggered a wave of profit booking," Kalantri said.</p><p>Gold had touched a lifetime high of 99,358 per 10 grams on Tuesday on MCX. However, the retail price of gold breached Rs 1 lakh per 10 grams after taking into account GST and other charges.</p><p>In the international markets, gold futures fell 1.91 per cent to $ 3,315.92 per ounce in New York.</p>
<p>New Delhi: Gold futures snapped a four-session winning streak on Wednesday, falling sharply by Rs 1,975 or 2.03 per cent to Rs 95,365 per 10 grams, as investors booked profits after recent record highs, according to Multi Commodity Exchange (MCX) data.</p><p>On the MCX, gold contracts for June delivery traded lower by Rs 1,975 or 2.03 per cent to Rs 95,365 per 10 grams in a business turnover of 18,885 lots.</p>.Gold slips on Trump's Fed backflip, trade hopes.<p>According to Rahul Kalantri, Vice-President of commodities at Mehta Equities Ltd, gold prices declined over 2 per cent after US President Donald Trump's softened stance -- particularly towards the Federal Reserve and against China.</p><p>"Gold surged near the USD 3,500 per troy ounce mark during early trade, reflecting strong bullish momentum. However, the rally was short-lived. Remarks from the US President - reassuring markets that the administration is 'doing fine with China' and has no plans to replace Fed Chairman Jerome Powell - triggered a wave of profit booking," Kalantri said.</p><p>Gold had touched a lifetime high of 99,358 per 10 grams on Tuesday on MCX. However, the retail price of gold breached Rs 1 lakh per 10 grams after taking into account GST and other charges.</p><p>In the international markets, gold futures fell 1.91 per cent to $ 3,315.92 per ounce in New York.</p>