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Gold futures today fell 0.30 per cent to Rs 29,860 per 10 grams as participants cut their bets amid a weak global trend.
Besides, profit-booking by speculators also weighed on gold prices.
At the Multi Commodity Exchange, gold prices for delivery in far-month August fell Rs 89 or 0.3 per cent to Rs 29,860 per 10 grams in a business turnover of 83 lots.
Also, the metal for delivery in June declined Rs 74 or 0.25 per cent to Rs 29,610 per 10 grams in 588 lots.
Analysts attributed the fall in gold prices to a weak trend overseas where the precious metal held four days of losses as investors weighed the prospects for a US interest rate rise, strengthening the outlook for the dollar and denting the metal’s allure.
Meanwhile, gold traded at $1,247.66 an ounce against $1,249.13 on Monday in Singapore.
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