Gold futures fell 0.09 per cent to Rs 29,130 per 10 grams as participants trimmed their bets due to weak global cues. Besides, profit-booking by speculators also weighed on prices.
At the Multi Commodity Exchange, prices for delivery in February fell Rs 26 or 0.09 per cent to Rs 29,130 per 10 grams in a business turnover of 94 lots. Also, the metal for delivery in far-month April declined Rs 18 or 0.06 per cent to Rs 29,104 per 10 grams in 4 lots.
Analysts attributed the fall in prices to a weak trend overseas, as the dollar strengthened against major currencies overseas, reducing the appeal for precious metal as a safe haven, and profit-booking by speculators at prevailing levels.
Meanwhile, the yellow metal traded 0.25 per cent down at $1,309.30 an ounce in Singapore.