Gold prices softened by 0.12 per cent to Rs 29,880 per 10 grams in futures trade today as speculators cut down bets amid a weak global trend.
At the Multi Commodity Exchange, gold prices for delivery in August fell by Rs 35, or 0.12 per cent, to Rs 29,880 per ten grams in business turnover of 262 lots.
Likewise, the yellow metal for delivery in October contracts shed Rs 27, or 0.09 per cent to Rs 30,110 per ten grams in 6 lots.
Analysts attributed the weakness in gold futures to offloading of positions by participants in line with a weak overseas trend.
Globally, gold fell 0.20 per cent to USD 1228.90 an ounce in Singapore.
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