Gold futures prices fell 1.52 per cent to Rs 29,669 per 10 grams today as speculators offloaded their positions, taking weak cues from the global market amid rising rupee.
Besides, subdued spot demand and profit-booking by speculators also put pressure on gold futures.
On the Multi Commodity Exchange, gold prices for delivery in October fell Rs 459 or 1.52 per cent to Rs 29,669 per 10 grams in a business turnover of 2,853 lots.
Similarly, the metal prices for delivery in far-month December declined by Rs 430 or 1.44 per cent to Rs 29,526 per 10 grams in 291 lots.
Analysts said that the fall in gold futures was mostly attributed to a weak trend in the Asian region and a rising rupee, which made the dollar-quoted precious metal cheaper.
Slackened demand at the domestic spot markets and profit-booking by speculators too put pressure on the prices, they said.
Globally, gold prices fell $4.20 or 0.32 per cent to trade at $1,323.70 an ounce in Singapore.