Gold falls Rs 73 in futures trade

Gold prices fell Rs 73 to Rs 29,427 per 10 grams in futures trade Saturday as participants reduced their positions even as metal strengthened overseas.

At Multi Commodity Exchange, gold for delivery in April contract was trading lower by Rs 73 or 0.25% at Rs 29,427 per 10 grams in a business turnover of 603 lots.

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Also, the metal for delivery in far-month June shed Rs 62 or 0.21% to Rs 29,731 per 10 grams in 6 lots.

Analysts said trimming of positions at prevailing levels by speculators led to the fall in gold prices at futures trade but a firming trend overseas, capped the losses.

Globally, gold fell 0.6% to $1,256.88 an ounce in Singapore.