Gold falls Rs 259 in futures trade on weak global cues

Gold prices fell Rs 259 to Rs 30,102 per 10 grams in futures trade today as participants trimmed their positions to book profits amid a weak trend overseas.

At Multi Commodity Exchange, gold for delivery in February was trading lower by Rs 259, or 0.85 per cent, at Rs 30,102 per 10 grams, in a business turnover of 96 lots.

Also, the metal for delivery in far-month April shed Rs 209, or 0.69 per cent, to Rs 30,066 per 10 grams in 147 lots.

Analysts said apart from the profit-booking at current levels by speculators, a weakening trend in the overseas, weighed on the precious metal in futures trade.

Globally, gold fell 0.13 per cent to USD 1,347.50an ounce in Singapore.