Gold futures decline 0.3% on weak global cues

Stronger dollar curbed demand for gold

Gold futures prices today fell by 0.29% to Rs 31,004 per 10 grams as speculators reduced exposure amid a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in December fell by Rs 90, or 0.29%, to Rs 31,004 per 10 grams, with a business turnover of 1,164 lots.

February gold moved down by Rs 82, or 0.26%, to Rs 31,390 per 10 grams, with a business turnover of 91 lots.

Globally, spot gold fell $1.30 to $1,709.80 an ounce in New York in yesterday's trade.

Marketmen said a weak trend in global markets as stronger dollar curbed demand, mainly kept pressure on gold futures here.