Gold futures fall by Rs 395 on global cues

Gold prices fell by Rs 395 to Rs 29,340 per 10 grams in futures trade today due to offloading of positions by participants at prevailing high levels amid weak global trends.

Gold prices fell by Rs 395 to Rs 29,340 per 10 grams in futures trade today due to offloading of positions by participants at prevailing high levels amid weak global trends.

At the Multi Commodity Exchange, gold for delivery in October lost Rs 395, or 1.33 percent, at Rs 29,340 per 10 grams in a business turnover of 1,320 lots.

Similarly, the metal for delivery in December eased by Rs 395, or 1.32 percent, to Rs 29,567 per 10 grams in a business volume of 64 lots.

Analysts attributed the fall in gold futures to cutting down of positions by traders at the existing level and the metal's losses in the global market in view of a stronger dollar.

Globally, gold was trading 0.09 percent lower at USD 1,173.70 an ounce, its lowest in over 19 months in Singapore today.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)