Besides, subdued spot demand and profit-booking by speculators also put pressure on gold futures. (Agencies)
At the Multi Commodity Exchange, gold prices for delivery in October fell by Rs 459, or 1.52 percent, to Rs 29,669 per 10 grams in business turnover of 2,853 lots.
Similarly, metal prices for delivery in far-month December declined by Rs 430, or 1.44 percent, to Rs 29,526 per 10 grams in 291 lots.
Analysts said the fall in gold futures was mostly attributed to a weak trend in the Asian region and a rising rupee, which made dollar-quoted precious metal cheaper.
Slackened demand at domestic spot markets and profit-booking by speculators, too put pressure on the prices, they said.
Globally, gold prices fell USD 4.20, or 0.32 percent to trade at USD 1,323.70 an ounce in Singapore.
Silver futures down by 2.38 percent
Amid a weak trend in the Asian region and appreciating rupee, silver prices nosedived by Rs 1,205, or 2.38 pc to trade at Rs 49,471 per kg in futures trade as speculators engaged in reducing exposures.
At the Multi Commodity Exchange, silver for delivery in December traded Rs 1,205, or 2.38 percent lower at Rs 49,471 per kg in business turnover of 2,742 lots.
In a similar fashion, the white metal for delivery in March fell by Rs 1,154, or 2.23 percent lower, at Rs 50,593 per kg in 33 lots.
Market analysts said the fall in silver prices at futures trade was mostly attributed to a weak trend in the Asian region amid speculation the US Federal Reserve will start to pare stimulus as the economy improves, reducing demand for the precious metal.
Meanwhile, silver fell by 1.93 percent to USD 21.84 an ounce in Singapore.
Besides, subdued spot demand and profit-booking by speculators also put pressure on gold futures.