Gold futures soften by 0.08 per cent on global cues

New Delhi: Gold prices traded lower by 0.08 per cent to Rs 29,247 per 10 grams in futures trade on Friday as speculators trimmed positions amid weakening global trend.

At the Multi Commodity Exchange, gold for delivery in December declined by Rs 23, or 0.08 per cent to Rs 29,247 per ten grams in business turnover of 1,090 lots.

Market analysts said that the fall in gold futures was mostly in tune with a weak trend overseas as the dollar strengthened against a basket of major currencies after the European Central Bank said it would extend the lifespan of its bond-buying program.