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Gold prices softened by 0.12 per cent to Rs 29,880 per 10 grams at the futures trade as speculators trimmed their bets owing to a weak global trend.
At the Multi Commodity Exchange, gold prices for delivery in August fell Rs 35 or 0.12 per cent to Rs 29,880 per ten grams in business turnover of 262 lots. Likewise, the yellow metal for delivery in October shed Rs 27 or 0.09 per cent to Rs 30,110 per ten grams in 6 lots.
Analysts attributed the weakness in gold futures to offloading of positions by participants in line with a weak overseas trend. Globally, gold fell 0.20 per cent to $1228.90 an ounce in Singapore.
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