Gold futures were trading lower during afternoon trade in the domestic market on Wednesday as investors and speculators indulged in profit booking in the precious metal as safe-haven demand faded, tracking a weak trend overseas. 

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At the MCX, gold futures for April 2017 contract is trading at Rs 29,295 per 10 grams, down by 0.13 per cent, after opening at Rs 29311, against a previous close of Rs 29332. It touched the intra-day low of Rs 29241.

             Trading Ideas  

1. Gold trading range for the day is 29119-29455.

2. Gold steadied as investors sought the perceived safety of the yellow metal amid growing concerns over political risks in Europe and around the globe.

3.  The U.S. trade deficit fell in December as exports hit their highest level in more than 1-1/2 years amid record shipments of technology products.