Gold futures fell Rs 110 to Rs 29,060 per 10 grams today as speculators reduced their bets amid weak global cues.
In futures trading at the Multi Commodity Exchange, gold for delivery in April fell Rs 110, or 0.38 per cent, to Rs 29,060 per 10 grams in business turnover of 4,679 lots.
Similarly, metal prices for delivery in far-month June declined Rs 100, or 0.34 per cent, to Rs 29,103 per 10 gram in 146 lots.
Analysts said the fall in gold futures is mostly due to trimming of positions by speculators amid concerns that the Federal Reserve may raise interest rates this month, strengthening the dollar and eroding the appeal of the precious metal as a safe-haven investment.
Meanwhile, gold traded 0.43 per cent down at USD 1,228.70 an ounce in London today.
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