MUMBAI (Reuters) - Indian gold futures eased to their lowest level in a month due to a stronger rupee and weak overseas markets, though importers continued to stay on the sidelines.
* At 4:06 p.m., the actively traded gold for October delivery on the Multi Commodity Exchange (MCX) was 2.25 percent lower at 29,450 rupees per 10 grams. It had earlier hit a low of 29,410 rupees, a level last seen on August 16.
* Global gold fell around 1 percent, with markets expecting the U.S. Federal Reserve to begin tapering its commodity-boosting monetary stimulus as soon as this month.
* The rupee, which traded stronger on Monday, plays an important role in determining the landed cost of the dollar-quoted yellow metal.
* Indian importers are examining new guidelines from the customs department issued on September 4 before shipping new lots.
* "We are waiting for the internal compliance... there are many formalities to be completed under the new procedure," said an official with gold importer State Trading Corp.
* Silver for December delivery on the MCX was 3.09 percent lower at 49,108 rupees per kg.
(Reporting by Siddesh Mayenkar; Editing by Prateek Chatterjee)
