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Gold prices dipped further by 0.41 per cent to Rs 29,012 per 10 gram at the futures trade as speculators engaged in reducing their positions, tracking a weak trend overseas.
At the Multi Commodity Exchange, gold for delivery in June fell Rs 119 or 0.41 per cent to Rs 29,012 per ten grams in a business turnover of 348 lots.
On similar lines, the metal for delivery in August traded lower by Rs 100 or 0.34 per cent to Rs 29,135 per ten gram in one lot.
Analysts said offloading of positions by traders in tandem with a weak trend overseas mainly influenced gold prices at the futures trade.
Globally, gold fell 0.27 per cent to $1,272.60 an ounce in Singapore.
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