Amid a weak trend overseas, gold continued its losing streak and fell by another 0.13 per cent to Rs 30,008 per 10 gram at the futures market today as speculators engaged in trimming positions.
On the Multi Commodity Exchange, gold for delivery in October traded down by Rs 39 or 0.13 per cent at Rs 30,008 per 10 grams in a business turnover of 1,427 lots. Similarly, the yellow metal for delivery in December lost Rs 30 or 0.1 per cent to Rs 29,869 per 10 grams in 64 lots.
Market analysts said the fall in gold futures was mostly attributed to a weak trend in the global market where it fell to over four-week low on speculation that the US Federal Reserve will commit to reducing the stimulus next week.
Meanwhile, gold prices dropped 0.65 per cent to $1,312.40 an ounce in Singapore.