Gold futures down 0.31 pc on global cues

Taking weak cues from global markets, gold prices drifted lower by 0.31 per cent to Rs 29,935 per 10 grams in futures trading as speculators trimmed their positions.
At Multi Commodity Exchange, gold for delivery in February next year was trading lower by Rs 92, or 0.31 per cent to Rs 29,935 per ten gram in a business turnover of 36 lots.
Similarly, the metal for delivery in December moved down by Rs 71, or 0.24 per cent to Rs 29,839 per ten gram in 1,157 lots.
Analysts said reducing of positions by participants in line with a weak trend overseas weighed on gold prices in futures trade here.

Meanwhile, gold fell 0.24 per cent to USD 1,262.20 an ounce in Singapore.