Gold futures down 0.92% on weak global cues

Gold futures prices falls by 0.92 % to Rs 29,638 per 10 grams as speculators offloaded their positions in tandem with a weak global trend.

Gold futures prices today fell by 0.92 % to Rs 29,638 per 10 grams as speculators offloaded their positions in tandem with a weak global trend.

At the Multi Commodity Exchange, gold prices for delivery in October fell Rs 274, or 0.92 %, to Rs 29,638, per 10 grams in business turnover of 1,658 lots.

On similar lines, metal prices for delivery in far-month December eased by Rs 217, or 0.73 %, to Rs 29,594 per ten grams in 225 lots.

Market analysts said the fall in gold futures was mostly attributed to a weak trend overseas, as investors weighed the outlook for stimulus in the US after a Federal Reserve policy maker said a small taper may occur next month.

Meanwhile, gold prices fell 0.90 per cent to $1,313.69 an ounce in Singapore today.