Gold futures fall Rs 89 on global cues

New Delhi: Gold futures today fell by Rs 89 to Rs 29,005 per 10 grams as participants indulged in cutting bets amid a weak trend overseas.

At the Multi Commodity Exchange, gold prices for delivery in August was trading lower by Rs 89, or 0.31 per cent, to Rs 29,005 per 10 grams in a business turnover of 363 lots.

Also, the metal for delivery in June declined Rs 84, or 0.29 per cent, to Rs 28,759 per 10 grams in a business volume of 100 lots.

Analysts attributed decline in gold prices at futures trade to trimming of positions by participants, tracking a weak trend in global market.

Meanwhile, gold traded 0.08 per cent lower at USD 1,267.85 an ounce in Singapore.