Gold prices moved down by 0.27 per cent to Rs 29,509 per 10 gram in futures trade on Tuesday after participants off-loaded partial positions, taking weak cues from the global market.

Gold for immediate delivery lost as much as 0.3 per cent to $1,600.76 an ounce.

At the Multi Commodity Exchange, gold for delivery in April eased by Rs 79, or 0.27 per cent, to Rs 29,509 per 10 gram in business turnover of 1,424 lots.

Likewise, the metal for delivery in far-month June shed Rs 77, or 0.26 per cent, to Rs 30,061 per 10 gram in 410 lots.

Market analysts said a weak trend in the overseas markets as Cyprus’s bailout damped haven demand mainly weighed on the gold prices at the futures trade.

Globally, gold fell 0.3 per cent to $1,600.76 an ounce in Singapore on Tuesday.

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