Gold futures down 0.3% on global cues

Last Updated: Tue, Sep 24, 2013 10:36 hrs

Gold futures prices today fell by 0.36% to Rs 29,678 per 10 gram as speculators engaged in trimming positions, tracking a weak trend overseas.

At the Multi Commodity Exchange, gold prices for delivery in December fell by Rs 108, or 0.36%, to Rs 29,678 per 10 gram in business turnover of 253 lots.

Similarly, gold prices for delivery in October declined by Rs 99, or 0.33%, to Rs 29,775 per ten gram in 2,235 lots.

Market analysts said the fall in gold futures was mostly attributed to a weak trend overseas after a Federal Reserve official said policy makers may start reducing US fiscal stimulus as early as next month.

Meanwhile, gold prices fell 0.4% to settle at $1,327 an ounce in New York yesterday.

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