Gold futures down 0.08% on global cues

Gold prices drifted lower by 0.08 per cent to Rs 29,600 per 10 grams in futures trade today as speculators trimmed positions amid weak overseas trend.

At the Multi Commodity Exchange, gold for delivery in April month declined by Rs 23, or 0.08 per cent to Rs 29,600 per 10 grams in business turnover of 401 lots.

Likewise, the metal for delivery in far-month June contracts shed Rs 8, or 0.03 per cent, to Rs 29,646 per 10 gram in 9 lots.

Analysts said, the fall in gold futures was mostly in line with a weak trend overseas.

Globally, gold prices fell 0.09 per cent to USD 1,255.80 an ounce in Singapore.