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Gold prices fell Rs 194 to Rs 29,238 per 10 grams at the futures trade today as speculators offloaded their positions on the back of lower global trend.
Sentiment turned bearish after gold fell in global markets as manufacturing in China trailed estimates and concerns of deepening Euro zone crisis boosted the dollar.
At the Multi Commodity Exchange, gold for delivery in August fell Rs 194 or 0.66 per cent to Rs 29,238 per 10 grams with a business turnover of 6,443 lots. Similarly, the metal for delivery in June declined by Rs 138 or 0.47 per cent to Rs 29,010 per 10 grams in 1,483 lots.
Market analysts said speculators offloaded their positions in tandem with a weak trend in overseas market which mainly led to the fall in gold prices at the futures trade.
Meanwhile, the yellow metal lost 0.6 per cent to $1,551.65 an ounce in Singapore.
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