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Gold futures prices fell 0.26 per cent to Rs 29,787 per 10 grams today as speculators offloaded their positions, taking weak cues from the global market amid rising rupee. Besides, subdued demand at the spot market also put pressure on the prices.
On the Multi Commodity Exchange, gold prices for delivery in October fell Rs 78 or 0.26 per cent to Rs 29,787 per 10 grams in a business turnover of 490 lots.
Similarly, the metal prices for delivery in far-month December declined by Rs 23 or 0.08 per cent to Rs 29,396 per 10 grams in 155 lots.
Analysts said that the fall in gold futures was mostly attributed to a weak trend overseas and a rising rupee, which made the dollar-quoted precious metal cheaper.
Slackened demand at the domestic spot markets too put pressure on the prices, they said.
Globally, gold prices fell 0.7 per cent to trade at $1,323.80 an ounce in New York yesterday.
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