Gold falls 0.3% on weak global cues

Gold futures fell 0.35% to Rs 28,269 per 10 grams today as speculators locked-in gains amid a weak global trend.

At the Multi Commodity Exchange, gold for delivery in October fell by Rs 84, or 0.35%, to Rs 28,269 per 10 grams in a business turnover of 18 lots.

On similar lines, the metal for delivery in August declined by Rs 68, or 0.24%, to Rs 28,288 per 10 grams in 464 lots.

Market analysts said the fall in gold futures was mostly due to profit-booking by speculators and a weak trend overseas.

Meanwhile, gold prices fell to $1,336.69 an ounce in Singapore from $1,338.70 on July 11.