Gold falls by 0.4% in futures trade on weak global cues

Gold fell Rs 102 to Rs 26,731 per 10 grams in futures trade today as participants reduced their positions, largely in line with a weak trend overseas.

At Multi Commodity Exchange, gold for delivery in October was trading lower by Rs 102, or 0.38%, at Rs 26,731 per 10 grams in a business turnover of 269 lots.

Also, the metal for delivery in December shed Rs 104, or 0.38%, to Rs 26,938 per 10 grams in three lots.

Analysts said there is a weakening trend in the overseas markets where gold retreated for the first time in four days as Asian stocks extended a global rout on concern over China's slowdown and its impact on the world economy, which weighed on the precious metal in futures trade here.

Globally, gold fell 0.2% to $1,138 an ounce in Singapore.