Gold futures extend losses, down 0.21% on weak global cues

Continuing its losing streak for the third straight day, gold prices fell by another 0.21 per cent to Rs 29,199 per 10 grams in futures trade today as speculators engaged in reducing their bets in line with a subdued trend overseas.
At the Multi Commodity Exchange, gold for delivery in far-month October declined by Rs 60, or 0.21 per cent, to Rs 29,119 per 10 grams, in a business turnover of three lots.
Similarly, the yellow metal for delivery in August shed Rs 56, or 0.19 per cent, to Rs 29,075 per 10 grams in 401 lots.
Market analysts said trimming of positions in tandem with a weak trend overseas, mainly kept gold prices down at futures trade.

Globally, gold fell 0.22 per cent to USD 1,274.80 an ounce in Singapore.