Gold futures soften on weak global cues

Gold prices fell by 0.12 per cent to Rs 26,763 per 10 grams in futures trade today as speculators reduced positions in tandem with weak global trend.
At the Multi Commodity Exchange, gold for delivery in far-month February 2015 contracted by Rs 31,or 0.12 per cent to Rs 26,763 per ten gram in business turnover of 720 lots.
The December contract of the metal shed Rs 5, or 0.02 per cent to Rs 26,321 per ten gram in 5,517 lots.
Analysts said speculators trimmed positions, tracking a weak trend overseas mainly led to the decline in gold prices at futures trade.

Meanwhile, gold traded lower by 0.45 per cent to USD 1,195 an ounce in London.