Gold prices fell Rs 58 to Rs 29,091 per 10 grams at the futures trade today as participants cut down their bets to book profits even as the precious metal strengthened overseas.
At the Multi Commodity Exchange, gold for delivery in far-month June was trading lower by Rs 58 or 0.2 per cent at Rs 29,091 per 10 grams in a business turnover of just 3 lots.
Also, the metal for delivery in April shed Rs 53 or 0.18 per cent to Rs 28,835 per 10 grams in 323 lots.
Analysts said profit-booking by speculators at prevailing levels mainly led to the fall in gold prices at the futures trade here, but the metal’s gain overseas capped the losses.
Globally, gold advanced to $1,208.76 an ounce in Singapore from $1,208.50 on speculation that the US central bank will probably slow the pace of rate increases this year as global market turmoil and weaker growth impact the world’s largest economy.