Gold futures fall marginally on global cues…

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Gold prices fell by 0.16 per cent to Rs. 26,678 per ten grams in futures trade today as speculators indulged in trimming positions in tandem with a weak global trend.

At the Multi Commodity Exchange, gold for delivery in December fell by Rs. 43, or 0.16 per cent, to Rs.26,678 per ten grams in a business turnover of 409 lots.

Similarly, the metal for delivery in February 2014 contracts lost Rs. 21, or 0.08 per cent, to Rs. 26,883 per ten grams in a business turnover of just one lot.

Analysts attributed the fall in gold futures to trimming of positions by speculators in tandem with a weak global trend as the dollar advanced towards a four-year high, reducing demand for precious metals as an alternative investment.

Meanwhile, gold fell 0.4 per cent to US $ 1,203.02 an ounce in Singapore in early trade today.

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