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. Also Read - Gold Prices Today: Precious Yellow Metal Price Remains Volatile
At the Multi Commodity Exchange, gold for delivery in October lost Rs 395, or 1.33 per cent, at Rs 29,340 per 10 grams in a business turnover of 1,320 lots. Also Read - Gold Prices Surge Today, Hit 4-Month High As Middle East Tensions Rise After US Airstrike on Baghdad
Similarly, the metal for delivery in December eased by Rs 395, or 1.32 per cent, to Rs 29,567 per 10 grams in a business volume of 64 lots. Also Read - Gold Prices Down on Sixth Consecutive Day by 0.05% to Rs 37,551 Per 10 Gram on MCX
Analysts attributed the fall in gold futures to cutting down of positions by traders at the existing level and the metal’s losses in global market in view of a stronger dollar.
Globally, gold was trading 0.09 per cent lower at USD 1,173.70 an ounce, its lowest in over 19 months in Singapore today.