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Gold prices fell 0.26 per cent to Rs 29,478 per 10 grams at the futures trade as participants trimmed their positions to lock-in gains amid a weak trend overseas.
At the Multi Commodity Exchange, gold for delivery in December declined by Rs 76 or 0.26 per cent to Rs 29,478 per ten grams in business turnover of 541 lots. Similarly, the yellow metal for delivery in far-month February next year contracts traded lower by Rs 48 or 0.16 per cent at Rs 29,524 per ten grams in 16 lots.
Analysts said apart from profit-booking by participants after recent gains, a weak trend in the overseas markets mainly weighed on gold prices at the futures trade here. Gold declined in the overseas market as strong dollar reduced the appeal for yellow metal as a safe haven.
Meanwhile, gold fell 0.32 per cent to $1,276.42an ounce in Singapore today.
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