Gold futures prices moved down by 0.14 per cent at Rs 30,290 per 10 grams today after participants offloaded partial positions, taking weak cues from the global market as a rally in global stocks curbed the demand for the yellow metal as an alternative investment.
On the Multi Commodity Exchange, gold for delivery in December eased by Rs 42 or 0.14 per cent to Rs 30,290 per 10 gm in a business turnover of 117 lots. Likewise, the metal for delivery in February next year shed Rs 37 or 0.12 per cent to Rs 29,796 per 10 gm in five lots.
Market analysts said a weak trend in the overseas market as a rally in global stock market curbed the demand for the precious metal as an alternative investment, mainly weighed on gold prices at the futures trade here.
Globally, gold fell 0.3 per cent to $1,286.89 an ounce in Singapore today.