Gold prices declined by 0.38 per cent to Rs 29,873 per 10 gram in futures trade today as speculators reduced exposure, tracking a weak trend overseas.
At the Multi Commodity Exchange, gold prices for delivery in October fell by Rs 85, or 0.28 per cent, to Rs 29,873 per 10 grams in business turnover of 22 lots.
Similarly, the yellow metal for delivery in August contracts shed Rs 75, or 0.25 per cent, to Rs 29,705 per 10 grams in 130 lots.
Analysts said offloading of positions by participants in line with a bearish overseas trend as the firmer dollar against its peers ahead of key central bank meetings and US inflation and payrolls data this week, influenced gold prices in futures trade.
Globally, gold fell 0.28 per cent to USD 1,219.80 an ounce in Singapore.
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