Amid a weak trend overseas and strengthening of rupee, gold prices fell 1.2 per cent to Rs 30,580 per 10 grams at the futures trade today.

On the Multi Commodity Exchange, gold for delivery in December eased Rs 370 or 1.2 per cent to Rs 30,580 per 10 gm in a business turnover of 12 lots.

Likewise, the metal for delivery in far-month February traded lower by Rs 227 or 0.77 per cent to Rs 29,367 per 10 gm in 482 lots.

Analysts said a weak trend in the overseas market as a biggest rally in six weeks spurred selling by investors and strengthening of rupee, which make imports cheaper, put pressure on gold prices at the futures trade here.

Globally, the yellow metal fell 0.5 per cent to $1,237.28 an ounce in Singapore today.

(This article was published on December 5, 2013)
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