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.
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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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