 "Gold down 0.7% on global cues")
Tracking a weak global trend, gold prices fell by 0.70% to Rs 29,535 per 10 grams in futures market today as speculators offloaded their positions.
At the Multi Commodity Exchange, gold for delivery in April fell by Rs 207, or 0.70%, to Rs 29,535 per 10 grams in a business turnover of 804 lots.
Similarly, the yellow metal for delivery in June lost Rs 190, or 0.65%, to Rs 29,107 per 10 grams in 70 lots.
Meanwhile, gold in Singapore dropped 0.70% to $1,325.05 an ounce.
At the Multi Commodity Exchange, gold for delivery in April fell by Rs 207, or 0.70%, to Rs 29,535 per 10 grams in a business turnover of 804 lots.
Similarly, the yellow metal for delivery in June lost Rs 190, or 0.65%, to Rs 29,107 per 10 grams in 70 lots.
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Market analysts said the fall in gold futures was mostly due to a weakening trend in the global market on speculation that US interest rates will increase next year, curbing demand for the metal as a store of value.
Meanwhile, gold in Singapore dropped 0.70% to $1,325.05 an ounce.