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Gold futures fell 0.22 per cent to Rs 29,850 per 10 grams today as participants cut their bets amid a weak global trend.
At the Multi Commodity Exchange, gold for delivery in December shed Rs 66 or 0.22 per cent to Rs 29,850 per 10 grams in a business turnover of 117 lots.
Also, the metal for delivery in far-month February declined Rs 65 or 0.22 per cent to Rs 29,976 per 10 grams in two lots.
Market analysts attributed the fall in prices to a weak trend overseas amid a strengthening belief that an improving US economy will push the Fed to boost interest rates soon, reducing the appeal for gold as a safe haven.
Meanwhile, gold traded lower 0.14 per cent at $1,264.70 an ounce in Singapore.
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