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Gold prices weakened by 0.08 per cent to Rs 29,934 per 10 grams at the futures trade due to trimming of positions by participants owing to a weak trend overseas.
At the Multi Commodity Exchange, gold for delivery in December declined by Rs 24 or 0.08 per cent to Rs 29,934 per ten grams in a business turnover of 42 lots. Likewise, the yellow metal for delivery in October shed Rs 20 or 0.07 per cent to Rs 29,705 per ten grams in 863 lots.
Analysts said the slide in gold futures was mostly in tune with a weak trend overseas, where gold prices hit 17-month low yesterday, as investors sought refuge from a financial market rout triggered by a crashing Turkish lira.
Meanwhile, gold fell 1.49 per cent to $1,193.10 an ounce in New York in yesterday’s trade.
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