Gold falls by 0.3% as weak global cues hurt

Gold prices fell Rs 91 to Rs 29,135 per 10 grams in futures trade today as participants trimmed their positions, largely in line with a weak trend overseas.

At Multi Commodity Exchange, gold for delivery in April was trading lower by Rs 91, or 0.31%, at Rs 29,135 per 10 grams, in a business turnover of 474 lots.

Also, the metal for delivery in June shed Rs 89, or 0.30%, to Rs 29,379 per 10 grams in 15 lots.

Analysts said there is a weakening trend in the overseas markets where gold retreated as stocks advanced, easing demand for a safe-haven assets, which weighed on the precious metal in futures trade.
 
Globally, gold fell 0.4% to $1,226.89 an ounce in Singapore.