Gold futures down 0.13% on weak spot market

Traders offload positions even as the precious metal gains 0.4% in Singapore

Gold futures prices today fell by 0.13 per cent, to Rs 29,630 per 10 grams as speculators offloaded their positions even as the metal strengthened overseas.

At the Multi Commodity Exchange, gold for delivery in April fell by Rs 38, or 0.13 per cent to Rs 29,630 per 10 grams in a business turnover of 1,498 lots.     

June gold by Rs 31, or 0.10 per cent, to Rs 30,180 per 10 grams in 56 lots.     

Market analysts attributed the fall in gold futures prices to offloading of positions amid a weak trend at domestic spot markets but a firming trend overseas, capped the fall.     

Meanwhile, gold rose 0.40 per cent, to $1,580.73 an ounce in Singapore in early trade today on speculation that central banks from the US to Europe and Japan will maintain stimulus measures to sustain the economic recovery.