Gold price declined by Rs 90 to Rs 29,370 per ten grams in futures trade early Wednesday as market participants trimmed their positions, even a firming trend overseas. At the Multi Commodity Exchange (MCX), gold for delivery in February moved lower by Rs 90 to Rs 29,370 per ten grams. Similarly, silver for delivery in March weakened by Rs 80 to Rs 45,650 per Kg. Gold price in overseas markets, which normally set price trend on the domestic front, edged higher today after closing lower for the first time in three sessions yesterday as some safe-haven bids emerged after equities and the dollar dropped on fears over an early end to the Federal Reserve's monetary stimulus. Spot gold last traded up USD 2.30 or 0.18 percent at USD 1,255.60 an ounce after moving in range of USD 1,252.20 - USD 1,257.10. In New York, gold for February delivery dropped by USD 3.90 or 0.3 percent to settle at USD 1,257.20 an ounce on the Comex division of the NYMEX yesterday. Meanwhile, gold zoomed by Rs 425 to Rs 31,150 per ten grams at Delhi bullion market on frantic buying by stockists and investors on strong global cues. Silver also surged by Rs 700 to Rs 45,000 per kg on increased offtake by jewellers and industrial units.

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