Gold futures down 0.38% on global cues

Gold prices declined by 0.38 per cent to Rs 29,760 per ten grams in futures trade today as speculators trimmed their positions on weakening global trend.

At the Multi Commodity Exchange, gold for delivery in December fell by Rs 114, or 0.38 per cent, to Rs 29,760 per ten grams in business turnover of 1,472 lots.

Similarly, the yellow metal for delivery in October traded lower by Rs 101, or 0.33 per cent, to Rs 30,324 per ten grams in 355 lots.

Market analysts said speculators trimmed their positions in tandem with a weak global trend on speculation that any US government shutdown will be short-lived, mainly influenced the sentiment.

Meanwhile, gold fell by 0.3 per cent to $1,324.95 an ounce in Singapore.