Gold futures fall 0.45% on weak global cues

Gold prices fell by 0.45 per cent to Rs 30,007 per ten gram in futures trade today as participants trimmed their positions, tracking a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in October declined by Rs 137, or 0.45 per cent, to Rs 30,007 per ten gram in a business turnover of nine lots.

Similarly, the yellow metal for delivery in August contracts traded lower by Rs 119, or 0.40 per cent, to Rs 29,766 per ten gram in 213 lots.

Analysts said a weakening trend overseas as the dollar traded close to a one-year high, reducing investors' appetite in the precious metal, weighed on the gold prices in futures trade here.

Meanwhile, gold fell 0.23 per cent to USD 1,219.50 an ounce in Singapore.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)