Gold futures down Rs 28 on global cues

Gold prices fell by Rs 28 to Rs 29,691 per 10 gram in futures trade as speculators trimmed their bets amid weak global cues in the evening session today.
The exchange remained closed for the morning session on account of 'Muharram'.
At Multi Commodity Exchange, gold for delivery in December was trading Rs 28 or 0.09 per cent lower at Rs 26,691 per 10 gram in business turnover of 222 lots.
The metal for delivery in February also moved down by Rs 8 or 0.03 per cent to trade at Rs 29,804 per 10 gram in a turnover of 2 lots.

Analysts said cutting down of positions by participants following a subdued trend in global markets weighed on gold prices in futures trade here.
Meanwhile, gold traded 0.56 per cent lower at USD 1,252.40 an ounce in New York yesterday.