Gold futures slip below Rs 26,000 on profit-booking

Gold cracked the Rs 26,000-mark in futures trade today by falling 0.48 per cent to Rs 25,973 per 10 gram amid profit-booking by speculators at current levels and muted demand from jewellers at the domestic spot markets.
Gold for delivery in far-month April contract slipped below the crucial Rs 26,000 mark by falling Rs 126, or 0.48 per cent, to Rs 25,991 per 10 gram in a business turnover of 324 lots at the Multi Commodity Exchange.
In a similar fashion, the metal for delivery in February was trading down Rs 104, or 0.40 per cent to Rs 25,961 per 10 gram in 7,208 lots.

Analysts said the fall in gold futures was mostly due to profit-booking by speculators and a weak trend at the spot markets following fall in demand from jewellers.
At the domestic spot markets in Delhi, gold fell by Rs 35 to close at Rs 26,350 per 10 gram.
Meanwhile, gold prices fell 0.17 per cent to USD 1,086.90 an ounce in London in early trade today.