Gold prices softened by 0.12 per cent to Rs 29,870 per 10 gram in futures trading as traders trimmed their bets amid weak global cues.
At Multi Commodity Exchange, gold for delivery in February next year declined by Rs 35 or 0.12 per cent to Rs 29,870 per ten gram in business turnover of 7 lots.
Likewise, the metal for delivery in December contracts was trading lower by Rs 19 or 0.06 per cent to Rs 29,767 per ten gram in 322 lots.
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Analysts said cutting down of positions by participants, tracking a weak trend in global markets weighed on gold prices in futures trade here. Meanwhile, gold fell 0.07 per cent to USD 1,261.30 an ounce in Singapore.