Gold futures drop below 30k level on global cues

Gold futures for April dropped by Rs 175, or 0.58% to Rs 29,917 per ten grams in 5,811 lots.

At the Multi Commodity Exchange (MCX), the June contract lost Rs 154, or 0.50% to Rs 30,439 per ten grams in 220 lots.

Prices dropped as speculators trimmed their positions.

Weak global trend affected the gold futures trade here.

In Singapore, gold fell 0.1% to $1,611.55 an ounce.